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102 BARRY Diller IAC
to Provide Expedia With $250 Million
• • IAC/InterActiveCorp,
billionaire Barry Diller's Internet
company, will give $250 million in cash to its Expedia unit
to provide it with capital when it is spun off as a public
company
• •
IAC/InterActiveCorp, billionaire
Barry Diller's Internet company, will give $250 million in
cash to its Expedia unit to provide it with capital when it
is spun off as a public company.
• •
Expedia, which will consist of travel
businesses Hotels.com, Hotwire, Expedia.com and other
websites, will have a revolving credit line of $500 million
at the time of the spinoff, New York-based IAC said in a
filing Monday with the Securities and Exchange
Commission.
• •
Diller on Dec. 21 said he would split
IAC into two companies by giving shareholders Expedia stock
and leaving Ticketmaster, Home Shopping Network and other
companies under IAC. The company has said Expedia will have
adequate funding but IAC will retain most of its cash.
• •
IAC shares rose 40 cents to $21.29 on
Nasdaq.
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News 142005 / Buy Out and Merger Boom LookRadio
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102
BARRY Diller IAC to Provide Expedia With $250
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