Expedia commented yesterday on published reports that USA Networks is in discussions with Vivendi Universal (“Vivendi”) regarding an acquisition by Vivendi of certain assets of USA.
Vivendi confirmed that it is in talks with USA Networks and it is possible that they might buy the film, TV, production and cable units.
To the extent such a transaction is announced by the parties or is considered probable, this may impact the timing of the presentation to Expedia shareholders for approval of the pending USA/Expedia merger transaction and may require the filing and distribution to Expedia shareholders of an amended joint prospectus/proxy and information statement. Expedia will conduct its scheduled shareholder meeting on December 17th at which time shareholders will elect directors and will transact any other business as may properly come before the annual meeting including, to the extent a USA/Vivendi transaction has not been announced and is considered not probable, approval of the USA/Expedia merger transaction.
A public statement will be made regarding the status and timing of the Expedia/USA transaction as soon possible.