Shareholder Vote Postponed at Expedia.

18th Dec 2001

Expedia postponed a shareholder vote of USA Networkså’ purchase of as much as a 75 percent stake in it after Vivendi Universal SA agreed to buy some of USA Networks` assets in a separate transaction.

Expedia went ahead with yesterdays annual shareholder meeting to consider election of directors and other matters, the company said.

The vote on the USA Networks purchase is now expected in ``early 2002`` after material related to the purchase is amended, Expedia said. Expedia shareholders were to vote yesterday on USA Networks` plan to buy a controlling interest from Microsoft Corp. for about $1.5 billion in stock and warrants. Shareholders were asked to approve the issuance of warrants, a new class of stock and other matters related to the transaction.

USA Networks is selling its cable channels and TV studio, leaving it with the Home Shopping Network and Internet-commerce businesses.





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