Expedia has set the date for the reconvened Expedia annual shareholders` meeting, which was adjourned from December 17, 2001.
At this meeting, to take place on February 4, shareholders will vote on those proposals that were adjourned from the December meeting regarding the proposed merger of a wholly owned subsidiary of USA Networks, Inc. into Expedia, with Expedia surviving as a public company controlled by USA.
The deadline for Expedia shareholders to elect to retain their Expedia shares and receive warrants to purchase additional Expedia shares, or to exchange their Expedia shares for a package of USA securities has been extended to 17:00 EST, 22:00 UTC, February 4, 2002.
The December 17, 2001 Expedia annual shareholders` meeting was adjourned based on USA`s announcement that it had entered into an agreement with Vivendi Universal, S.A. under which USA would contribute its entertainment businesses to a joint venture that would also hold the businesses of Universal Studios Group. There are no changes in the terms of the Expedia/USA transaction as described in Expedia`s proxy statement dated November 13, 2001.
Expedia will mail to shareholders of record as of October 15, 2001, a supplement to its November 2001 proxy statement, which contains more information about the USA/Vivendi transaction.