Diller books hotel site without reservation

Shareholders get 2.4 USA shares for each of their own

Investors applauded Thursday as Barry Diller’s USA Interactive snapped up all the shares of online-reservation service Hotels.com it didn’t already own in a $1.1 billion stock swap, cementing the media mogul’s commitment to his portfolio of transaction-based businesses.

Move comes just weeks after reports that Diller had ankled his second post as head of Vivendi Universal’s entertainment division. Exec has weathered heavy criticism in recent months over perceived conflicts of interest between the two jobs.

Premium of almost 15%

Under the terms of the latest pact, Hotels.com shareholders will get 2.4 USA shares for each of their shares, repping a premium of almost 15% to the stock’s close on Wednesday.

The latest deal broadens USA’s stable of transactional assets, which already include Ticketmaster/Citysearch, Expedia and the Home Shopping Network. Just last month, USA expanded its stake in Expedia in a $3.1 billion deal.

Thursday’s news sent the shares of both companies sharply higher on Wall Street. USA gained more than 6% to close at $26.69, while Hotels.com soared by almost 20% to end the day at $63.50.

More Digital

  • Michelle Kempner

    BuzzFeed Entertainment Operations Head Michelle Kempner Exiting for Facebook

    Investors applauded Thursday as Barry Diller’s USA Interactive snapped up all the shares of online-reservation service Hotels.com it didn’t already own in a $1.1 billion stock swap, cementing the media mogul’s commitment to his portfolio of transaction-based businesses. Move comes just weeks after reports that Diller had ankled his second post as head of Vivendi […]

  • Empty movie theater

    AMC Theatres Teams With Facebook for Movie Ticket Purchases

    Investors applauded Thursday as Barry Diller’s USA Interactive snapped up all the shares of online-reservation service Hotels.com it didn’t already own in a $1.1 billion stock swap, cementing the media mogul’s commitment to his portfolio of transaction-based businesses. Move comes just weeks after reports that Diller had ankled his second post as head of Vivendi […]

  • VUDU logo

    Walmart Eyes Q4 Launch of Vudu-Branded Service to Rival Netflix (EXCLUSIVE)

    Investors applauded Thursday as Barry Diller’s USA Interactive snapped up all the shares of online-reservation service Hotels.com it didn’t already own in a $1.1 billion stock swap, cementing the media mogul’s commitment to his portfolio of transaction-based businesses. Move comes just weeks after reports that Diller had ankled his second post as head of Vivendi […]

  • Marc Hustvedt - Fine Brothers Entertainment

    Marc Hustvedt, Formerly CEO of Above Average, Joins FBE (EXCLUSIVE)

    Investors applauded Thursday as Barry Diller’s USA Interactive snapped up all the shares of online-reservation service Hotels.com it didn’t already own in a $1.1 billion stock swap, cementing the media mogul’s commitment to his portfolio of transaction-based businesses. Move comes just weeks after reports that Diller had ankled his second post as head of Vivendi […]

  • Walter Cronkite Media Broadband

    Rebooting Walter Cronkite: Broadcast News Rushes to Broadband

    Investors applauded Thursday as Barry Diller’s USA Interactive snapped up all the shares of online-reservation service Hotels.com it didn’t already own in a $1.1 billion stock swap, cementing the media mogul’s commitment to his portfolio of transaction-based businesses. Move comes just weeks after reports that Diller had ankled his second post as head of Vivendi […]

  • Spotify logo is presented on a

    Spotify Launches Feature to Help Artists, Labels Submit Music to Playlists

    Investors applauded Thursday as Barry Diller’s USA Interactive snapped up all the shares of online-reservation service Hotels.com it didn’t already own in a $1.1 billion stock swap, cementing the media mogul’s commitment to his portfolio of transaction-based businesses. Move comes just weeks after reports that Diller had ankled his second post as head of Vivendi […]

  • Chance the Rapper

    Chance the Rapper Buys Chicagoist Website, He Announces in New Single

    Investors applauded Thursday as Barry Diller’s USA Interactive snapped up all the shares of online-reservation service Hotels.com it didn’t already own in a $1.1 billion stock swap, cementing the media mogul’s commitment to his portfolio of transaction-based businesses. Move comes just weeks after reports that Diller had ankled his second post as head of Vivendi […]

More From Our Brands

Access exclusive content