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A major Democratic donor last week called the Federal Trade Commission’s chair a “dope” and called for her firing. It turns out one of his companies is being investigated by the FTC.
CNN on Tuesday reported that IAC Inc. — the New York-based holding company behind media giant Dotdash Meredith and home services firm Angi Inc. — is facing multiple investigations from the FTC into its subsidiaries. It’s unclear which of the dozens of brands owned by IAC are being investigated.
In a statement, the company said it doesn’t comment on the status of investigations. The FTC declined to comment.
Barry Diller, IAC’s chairman, is the billionaire behind the “dope” comment. In a statement to CNN Tuesday, he walked back the insult, saying he “misspoke” about FTC Chair Lina Khan.
“I said ‘she’s a dope.’ She isn’t. She’s smart but I believe overreaches in disrupting sensible business combinations,” Diller said.
The media mogul has said he will “donate the maximum” to Vice President Kamala Harris’s campaign and that she will beat former president Donald Trump’s “broken down ass.” Diller on Friday told CNBC he would lobby a potential Harris administration to drop Khan, adding that she is against “almost anything” businesses want to do to grow efficiently.
Khan is known for her strict stance on antitrust. As chair, she has taken legal action against several prominent mergers, such as Microsoft’s $69 billion deal with Activision Blizzard or Kroger’s $25 billion plan to buy Albertsons. The agency recently reached a deal with the Justice Department to carry out investigations into Microsoft, OpenAI, and chipmaker Nvidia.
Her work has won praise from progressives and critics of major companies, but made enemies of many big players in tech and on Wall Street. In September, a group of big Democratic donors called on President Joe Biden to fire Khan if he won a second term.
Another major Democratic donor, LinkedIn co-founder Reid Hoffman, has said Khan is a “person who is not helping America” through her actions. Hoffman sits on Microsoft’s board; the tech giant’s“acqui-hire” of artificial intelligence startup Inflection is also being investigated by the FTC.
Hoffman’s comments sparked a rebuke from some progressives, including Vermont Sen. Bernie Sanders, who called out Hoffman for his “arrogance.” Sen. Elizabeth Warren of Massachusetts praised Khan, saying she was doing an “excelling job.”
Khan has even won the support of some Republicans — the so-called “Khanservatives” — even if the majority of the party doesn’t like her. Trump’s running mate, Ohio Senator J.D. Vance, has even said Khan is doing a “pretty good job” because of her aggressive approach to enforcement against big tech.
Khan told ABC News in May that under her leadership “the FTC has been squarely focused on making sure we’re using all of our tools and authorities to protect the American people from illegal business practices.”
“In many ways it feels like our work is just getting started,” she added, noting that “it would be an honor” to be nominated for another term as commissioner after her tenure ends in September. Khan can serve until a replacement is nominated and confirmed by the Senate, which would likely take a considerable amount of time.