Expedia Inc. Chairman Barry Diller has stated that he "has no plans to cede control of the online travel company to fellow major shareholder Liberty Media Corp."

Published: 26 Jun 2007

Expedia Inc. Chairman Barry Diller has stated that he "has no plans to cede control of the online travel company to fellow major shareholder Liberty Media Corp."

"I want to say clearly that I have no intention to transfer control of Expedia
to Liberty Media Corporation under any circumstances," said Diller in an e-mail
to employees. "I don't want any of you to wonder or worry that the company is
being tossed around between me and Liberty as a pawn on a chessboard. It is
not."

Last week Expedia said it would spend as much as $3.5 billion to buy back 42
percent of its common stock. Liberty, which has 23 percent of Expedia's common
stock, will keep its shares, Expedia said.

Diller controls Expedia through an agreement with Liberty Media that allows
him to vote Liberty's 43.6 million common shares and 1.2 million Class B
supervoting shares. Expedia has 323.7 million shares outstanding, according to
filings. In addition to his own holdings, which include 24.4 million
supervoting shares, Diller controls about 58 percent of the votes in Expedia.