April 11, 2003 |
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.
April 18, 2003 |
Vivendi Universal returned fire at Barry Diller's USA Interactive, saying its lawsuit was "without merit" and a negotiating ploy. USA Interactive accused Vivendi on Tuesday of reneging on a commitment to cover approximately $620 million in taxes arising from its interest in Vivendi Universal Entertainment, created last year when USA sold its movie and television properties to Vivendi for about $11 billion. The company, which is seeking buyers for its U.S.
April 16, 2003 |
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.
May 2, 2003 |
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.
February 7, 2003 |
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.
December 9, 2002 |
A thorny tax dispute with Barry Diller's USA Interactive is adding another layer of complication to Vivendi Universal Chief Executive Jean-Rene Fourtou's plans to reorganize and possibly spin off the Los Angeles-based entertainment group. The dispute surfaced Friday when USA Interactive, the electronic commerce company, accused Vivendi's U.S. entertainment division of reneging on an agreement to cover its tax payments. Vivendi this year paid $11 billion for a 5.
July 1, 2008 |
An insider trading case dismissed two years ago in favor of Orange County businessman J. Thomas Talbot, a former director of Fidelity National Financial Inc., was reinstated Monday by a federal appeals court. The Securities and Exchange Commission can seek to hold Talbot liable for trading on inside information when he purchased shares of LendingTree Inc. in 2003 before the Internet consumer loan service was acquired by USA Interactive Inc., the U.S. 9th Circuit Court of Appeals ruled.
July 25, 2002 |
Vivendi Universal's Hollywood executives returned from their first face-to-face meetings with the new chairman in Paris with one clear impression: The French want to be out of the American entertainment business as badly as the Americans want them to leave. Chairman Jean-Rene Fourtou did not specifically say he planned to sell the American companies, sources close to the discussions said.
January 18, 2003 |
Dismissing critics who have called him a "tire kicker," billionaire oil man Marvin Davis is about to take another spin at buying the U.S. entertainment businesses of Vivendi Universal.
July 3, 2002 |
Up and down the halls of Universal Studios on Tuesday there were periodic outbursts--20! 19! 18!--as assistants yelled out updates on the deteriorating Vivendi Universal stock price. "Everyone's stock options are worse than underwater," one executive said. "They are anchored to the bottom of the ocean."