Rumour of Expedia being taken private dispelled
Published: 29 May 2008
Expedia Inc. Chairman Barry Diller has dismissed rumours pertaining to the online travel site being taken private.
He reportedly blamed speculators for trying to make a quick buck, reported Reuters.
Shares of Expedia jumped as high as $23.81 on Wednesday, from Tuesday's close of $21.74, on rumours that Diller might want to take the company private.
In an interview on Fox Business Network, Diller said "no" when asked if InterActiveCorp would take Expedia private. He then noted that he doesn't comment on rumors, but went on to suggest that there wasn't much to the Expedia speculation.
"When you literally look at your computer screen and up comes some e-mail from somebody saying there is a rumour you're taking this company private, you go, `Oh, well, that's interesting. Where did that come from?"
"So that was my reaction, if it gives you any definitive response."
IAC spun off Expedia to the public in 2005.
IAC is in the midst of a plan itself to separate into five entities: IAC, which would include such enterprises as Citysearch, Match.com, Ask.com and Evite; HSN, a home-shopping network; Ticketmaster; Interval International, which would include CondoDirect, Resort Quest Hawaii and VacationSource.com; and Lending Tree.
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