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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
  and 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,, Hotwire and Expedia’s private-label business WWTE.