IAC Completes Elong Transaction

IAC/InterActiveCorp today announced the successful completion of its investment in eLong, Inc., a privately held online travel provider based in Beijing that operates the websites http://www.eLong.com
  and http://www.eLong.net.As part of the $60 million transaction, IAC acquired warrants,  which if exercised, will increase IAC’s ownership of eLong to 51%.  IAC’s investment in eLong will be managed by IAC Travel, which operates the other travel assets of IAC,  including Expedia, Hotels.com, Hotwire and Expedia’s private-label business WWTE.