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USA Interactive Finishes Hotels.com Deal

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Continuing efforts to consolidate the ownership of its majority-controlled e-commerce properties, Barry Diller’s USA Interactive is acquiring the outstanding stock of Internet travel play Hotels.com (Quote, Company Info) in a $1.1 billion deal.

The move completes the restructuring by USA Interactive (Quote, Company Info), which only last month acquired the remaining shares of its Expedia (Quote, Company Info)online travel agency.

The Hotels.com deal is a tax-free stock-for-stock transaction, said USA, already the majority owner (68 percent of the stock and 97 percent of the voting stock) of the hotel booking site. USA began a year ago to simplify its corporate structure by buying in its publicly traded subsidiaries.

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USA Interactive Finishes Hotels.com Deal
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Internetnews.com contains award-winning real-time news focused 100% purely on the Internet industry. Internetnews.com is part of the internet.com Network of websites and email newsletters which are owned by Jupitermedia. Jupitermedia provides business professionals with the up-to-the-minute technology news, resources and product information that they need to do their jobs. Our internet.com and EarthWeb.com network consists of over 150 targeted Web sites and 200 e-mail newsletters serving vertical markets in the technology sector and serve over 20 million unique users each month. WebProNews Writer
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