IAC's Barry Diller: Comcast is the 'most perfectly positioned ' company in media now

"Of all those companies, Comcast is the most perfectly positioned because they are really on the distribution side in a significant way, and they're on the production side also in a significant way," said Barry Diller at the Internet Association's Virtuous Circle Summit. "Whichever one you bet on for having the ability to grow in the period when big technology companies take over almost anything, that's a pretty good bet." The era of a handful of traditional media companies dominating the landscape is over as more technology giants get in the game, Diller said. Existing media companies can still survive, but they'll never have the monopoly over entertainment and advertising while Facebook and Google have such large user bases. Cord-cutting is less of a risk for companies like Comcast, Diller explained. If people stop buying its cable bundle, it still owns the data pipeline.