Expedia spins away. Corante New York:

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December 21, 2004

Expedia spins away

Posted by Dominic Basulto

Breaking news: Barry Diller's InterActiveCorp announced plans to spin off its Expedia online travel unit. The move will create two publicly-traded companies -- InterActive (non-travel assets like Ticketmaster, MuseumTix.com and ServiceMagic) and Expedia (travel assets such as Expedia.com, AllLuxuryHotels.com and TV Travel Shop). Diller explains the rationale for the move: "We believe greater value can be created in the configuration we announce today than any other, and from this all else flows. This is entirely an elective...there is nothing else that pushed us, no transaction, no inherrent worry that led us to take this course at this time."

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