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BUSINESS
December 13, 2002 | From Reuters
USA Interactive, the Internet commerce company run by Barry Diller, restructured management ranks into three core categories and said the head of its electronic retailer, HSN, is leaving. The company -- home to travel firms Expedia Inc. and Hotels.com, Ticketmaster and dating service Match.com -- said it would reorganize operations into three groups: information and services, electronic retailing and travel services. Shares of New York-based USA fell 35 cents to $24.34 on Nasdaq.
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BUSINESS
June 7, 2003 | From Bloomberg News
USA Interactive said it agreed to purchase $407.4 million in warrants to buy its own stock from Vivendi Universal, which is trying to raise cash to pay debt. Paris-based Vivendi received the warrants to buy USA stock as part of its agreement last year to buy USA's entertainment business, including the USA and Sci-Fi Channel cable television networks. Vivendi is seeking buyers for the networks and Universal Studios. Vivendi still owns 56.
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BUSINESS
December 10, 2002 | From Bloomberg News
USA Interactive expects profit before some expenses to rise 66% annually as more consumers use its Internet commerce sites, which include online travel agency Expedia, Vice Chairman Victor Kaufman said. Kaufman also said USA probably would make more acquisitions in 2003 than it did this year. USA is trying to buy companies whose sales can be boosted on the Internet. This year, those included time- share-resort operator Interval Acquisition Corp. Shares of New York-based USA Interactive fell $1.
BUSINESS
May 6, 2003 | From Bloomberg News
Barry Diller's USA Interactive, expanding the range of goods and services it sells on the Internet, agreed to purchase LendingTree Inc. for $734 million in stock. Shareholders of LendingTree, a Web-based loan service, will receive 0.6199 of a share of USA common stock for each share of LendingTree common stock they own, the companies said. LendingTree shares rose as much as 45%.
BUSINESS
March 4, 2003 | From Bloomberg News
USA Interactive's Ticketmaster unit, the world's largest ticketing company, won the dismissal of an antitrust claim filed by smaller rival Tickets.com Inc. Tickets.com in 2000 claimed that Ticketmaster tried to monopolize the market for concert ticket sales. The complaint was filed as part of an existing lawsuit between the companies. U.S. District Judge Harry Hupp in Los Angeles granted Ticketmaster's motion to dismiss the claim. Shares of Tickets.
BUSINESS
June 1, 2002 | Reuters
USA Interactive Inc., the slimmed-down successor to USA Networks, said it plans to buy travel services company Interval International Inc. for about $578million in stock and cash to help build its online travel packages business. Miami-based Interval derives sales from fees paid by consumers and resort developers for vacation timeshares and other travel-related services. USA is buying Interval from Chicago-based private equity firm Willis, Stein & Partners and other investors.
BUSINESS
October 25, 2002 | Reuters
Media mogul Barry Diller's USA Interactive Inc. said that third-quarter cash earnings rose sharply from strength in its online units, including Expedia Inc. and Hotels.com, which offset weakness at its Home Shopping Network. Quarterly cash earnings, which adjusts for one-time charges and noncash items, rose to $65.7 million, or 14 cents a share, compared with $6 million, or 1 cent a share, last year. USA says this is the best gauge of the company's performance. Revenue rose to $1.
BUSINESS
July 12, 2002 | Reuters
Expedia Inc. rebuffed a takeover offer from its biggest shareholder, USA Interactive, run by media mogul Barry Diller, on grounds that it saw more growth potential if it remained independent. A special committee of Expedia's board of directors, which considered Diller's offer for the 37% of the Web travel agent that USA Interactive does not already own, said the company's "stand-alone prospects continue to be excellent." Expedia shares closed up 34 cents at $58.
BUSINESS
May 6, 2003 | From Bloomberg News
Barry Diller's USA Interactive, expanding the range of goods and services it sells on the Internet, agreed to purchase LendingTree Inc. for $734 million in stock. Shareholders of LendingTree, a Web-based loan service, will receive 0.6199 of a share of USA common stock for each share of LendingTree common stock they own, the companies said. LendingTree shares rose as much as 45%.
BUSINESS
June 7, 2003 | From Bloomberg News
USA Interactive said it agreed to purchase $407.4 million in warrants to buy its own stock from Vivendi Universal, which is trying to raise cash to pay debt. Paris-based Vivendi received the warrants to buy USA stock as part of its agreement last year to buy USA's entertainment business, including the USA and Sci-Fi Channel cable television networks. Vivendi is seeking buyers for the networks and Universal Studios. Vivendi still owns 56.
NEWS
May 2, 2003 | From Bloomberg News
USA Interactive, the online commerce company headed by Barry Diller, said Thursday that its first-quarter loss narrowed as sales increased at its Expedia Inc. and Hotels.com Internet travel services. The stock rose 9.1%. The net loss shrank to $112.1 million, or 23 cents a share, from $438.6 million, or $1.04, a year earlier. Revenue jumped 43% to $1.39 billion, USA said.
BUSINESS
April 16, 2003 | Richard Verrier, Times Staff Writer
The rancor between Barry Diller and former partner Vivendi Universal escalated Tuesday as the media mogul's company filed a lawsuit accusing the entertainment giant of reneging on an agreement to pay taxes. The unusual action comes nearly one month after Diller stepped down from his temporary position as chairman of Vivendi Universal Entertainment, the joint venture created last year when Diller sold his USA entertainment holdings to Vivendi in a deal valued at about $11 billion.
BUSINESS
April 11, 2003 | From Bloomberg News
Barry Diller's USA Interactive agreed to acquire the 32% of Hotels.com it doesn't already own for about $1.1 billion in stock, the final step in Diller's plan to buy USA's publicly traded units. USA will swap 2.4 shares for each share of Hotels.com, an online seller of discounted hotel rooms. The price values Hotels.com at about $60.24 a share, 13% more than its closing price Wednesday. Hotels.com will remain separate from USA's Expedia Inc., the largest online travel agency.
BUSINESS
March 20, 2003 | Richard Verrier, Times Staff Writer
Entertainment mogul Barry Diller is exiting Hollywood -- at least for now. Diller resigned Wednesday as chairman and chief executive of the U.S.-based movie, TV and theme park unit of French giant Vivendi Universal. He acknowledged that investors were "concerned and confused" about his dual role as head of Vivendi Universal Entertainment as well as USA Interactive, his sprawling electronic commerce company that includes the Home Shopping Network and Hotels.com.
BUSINESS
March 4, 2003 | From Bloomberg News
USA Interactive's Ticketmaster unit, the world's largest ticketing company, won the dismissal of an antitrust claim filed by smaller rival Tickets.com Inc. Tickets.com in 2000 claimed that Ticketmaster tried to monopolize the market for concert ticket sales. The complaint was filed as part of an existing lawsuit between the companies. U.S. District Judge Harry Hupp in Los Angeles granted Ticketmaster's motion to dismiss the claim. Shares of Tickets.
BUSINESS
February 7, 2003 | Richard Verrier
Media mogul Barry Diller's e-commerce company, USA Interactive, reported a large fourth-quarter profit, primarily from its travel businesses, dating service and an $80-million tax gain. The New York company reported net income of $148.1 million, or 30 cents per share, in the three months ended Dec. 31, versus a loss of $46.4 million, or 15 cents, a year earlier. Revenue increased to $1.34 billion from $948.5 million in 2001.
BUSINESS
April 11, 2003 | From Bloomberg News
Barry Diller's USA Interactive agreed to acquire the 32% of Hotels.com it doesn't already own for about $1.1 billion in stock, the final step in Diller's plan to buy USA's publicly traded units. USA will swap 2.4 shares for each share of Hotels.com, an online seller of discounted hotel rooms. The price values Hotels.com at about $60.24 a share, 13% more than its closing price Wednesday. Hotels.com will remain separate from USA's Expedia Inc., the largest online travel agency.
BUSINESS
February 7, 2003 | Richard Verrier
Media mogul Barry Diller's e-commerce company, USA Interactive, reported a large fourth-quarter profit, primarily from its travel businesses, dating service and an $80-million tax gain. The New York company reported net income of $148.1 million, or 30 cents per share, in the three months ended Dec. 31, versus a loss of $46.4 million, or 15 cents, a year earlier. Revenue increased to $1.34 billion from $948.5 million in 2001.
BUSINESS
December 10, 2002 | From Bloomberg News
USA Interactive expects profit before some expenses to rise 66% annually as more consumers use its Internet commerce sites, which include online travel agency Expedia, Vice Chairman Victor Kaufman said. Kaufman also said USA probably would make more acquisitions in 2003 than it did this year. USA is trying to buy companies whose sales can be boosted on the Internet. This year, those included time- share-resort operator Interval Acquisition Corp. Shares of New York-based USA Interactive fell $1.
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