IAC should be focusing its energy on turning around its slumping search engine and restoring order to its digital empire, but instead the company's boss, Barry Diller, is fighting with his longtime backer, Liberty Media Chairman John Malone, over control of the company.

The feud, which has devolved into legal wrangling for control of IAC, has gotten uglier by the day. After Malone moved to have Diller and his allies tossed of the IAC board, Diller released a statement calling his opponents insane, according to a Wall Street Journal report.

The boardroom fight comes amid big changes at IAC's search engine, Ask.com, which has failed to break past 5 percent of total U.S. searches. Control of Ask was recently given to Jim Safka, who previously handled marketing for Match.com.