Digg: For Sale? Working With IAC? None Of The Above?

Digg, the perpetually supposed-to-be-for-sale social new site, has hired Allen & Co to shop itself, reports VentureBeat. Asking price: $300 million.

As we've noted before, Digg has constantly been rumored to have been on the block: The only thing that changes is the site's ever-expanding valuation. Valleywag suggests that Barry Diller's IAC may be interested, but we don't quite understand the logic: Owen Thomas says IAC may be "secretly working with Digg on some kind of project -- possibly a white-label version of Digg's social news site." But if that's the case,  we don't see why Barry would want to buy the company outright -- especially at a premium valuation.