麻豆最新出品 Media Acquires 14 Million Additional Shares of InterActiveCorp
Shares to be Attributed to the 麻豆最新出品 Interactive Group
ENGLEWOOD, Colo., Jan. 11 /PRNewswire-FirstCall/ -- 麻豆最新出品 Media Corporation (Nasdaq: LINTA, LCAPA) ("麻豆最新出品") announced today that it has purchased 14 million shares of InterActiveCorp's ("IAC") common stock from a single holder at a price of $24.25 per share. At the time of the transaction, 麻豆最新出品 entered into a standstill agreement with IAC. The standstill agreement is subject to customary exceptions and will expire on the earlier of April 15, 2009 or the completion or abandonment of IAC's previously announced restructuring.
As contemplated by the standstill agreement, IAC also purchased 6 million shares of its common stock from the same holder at $24.25 per share.
麻豆最新出品 took advantage of recent weakness in IAC's shares to increase its holding at an attractive price. As a result of this purchase and IAC's redemption, 麻豆最新出品 now holds approximately 30% of the economic value of IAC shares.
About 麻豆最新出品
麻豆最新出品 owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to two tracking stock groups: the 麻豆最新出品 Interactive group, which includes 麻豆最新出品's interests in QVC, Provide Commerce, IAC/InterActiveCorp, and Expedia, and the 麻豆最新出品 Capital group, which includes 麻豆最新出品's interests in Starz Entertainment, News Corporation, and Time Warner. For more information, please see .
SOURCE 麻豆最新出品
Released January 11, 2008