New Acquisition for USA Networks

USA Networks, soon to be renamed USA Interactive, said it agreed to acquire U.K.-based TV Travel Group Ltd. for about $100 million in cash and stock.
TV Travel Group, a pioneer of the concept of dedicating TV channels to selling travel, has three channels in operation, two in the U.K. and one in Germany.


USA said the group`s current management will remain in place and is expected to oversee USA`s planned cable travel shopping network in this country. USA Networks also holds controlling interests in Expedia and Hotel Reservations Network.

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