Media Industry
Industry: Email Alert RSS FeedExpedia's Travel plans.(USA Networks to acquire majority stake in Expedia Inc.)(Brief Article)
Broadcasting & Cable, July, 2001 by Romano, Allison
USA Nets to use online travel agent to launch new shopping net USA Networks is hatching plans for a travel channel as part of its $1.5 billion deal to buy a majority stake in Microsoft's online travel company, Expedia. The USA Travel Channel will be a shopping network, selling tours and travel packaged by Expedia and National Leisure Group, a tour-package company, which USA is also taking over.
USA will now own about 75% of Expedia stock and control about 90% of voting power. In turn, Microsoft will own up to 5% of USA Networks, which indudes USA, SciFi, three digital networks and two shopping channels. Expedia and National Leisure Group will join Hotel Reservations Network, Ticketmaster and local online entertainment guide Citysearch under the...
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