BELLEVUE, Wash. and
ENGLEWOOD, Colo., July 26, 2019 /PRNewswire/ -- Expedia Group,
Inc. (NASDAQ: EXPE) ("Expedia Group") and Liberty Expedia Holdings,
Inc. (NASDAQ: LEXEA, LEXEB) ("Liberty Expedia") today announced
that Expedia Group closed its acquisition of Liberty Expedia in an
all-stock transaction.
In connection with the transaction, Barry Diller, Chairman and Senior Executive of
Expedia Group, and his family foundation, exchanged shares of
common stock of Expedia Group for shares of Expedia Group Class B
common stock held by Liberty Expedia. Mr. Diller and his family
foundation remain the largest voting shareholder of Expedia Group,
owning shares representing approximately 28% of the total voting
power of Expedia Group. Following the close of the transaction,
Expedia Group will reduce its share count by approximately 3.1
million shares and will no longer be a controlled company under
applicable NASDAQ rules.
As a result of the transaction, the Bodybuilding.com operating
business is now wholly-owned by Expedia Group. Liberty Expedia
common stock will no longer be traded on NASDAQ effective
immediately. In connection with the closing, the Liberty Expedia
nominees to the Expedia Group Board of Directors have stepped
down.
"This road, frequently travelled since 1994, between me,
John Malone, and Liberty Media, has
produced much success, none of which could have been possible
without Dr. Malone's encouragement and support," said Barry Diller. "While the formal partnership ends
with this transaction, my gratitude to John and Liberty will never
end for giving me the opportunity to begin the journey."
"We're very pleased to have reached this milestone in our
relationship with Liberty Expedia," said Mark Okerstrom, President and Chief Executive
Officer, Expedia Group. "Our primary goal in working with our
partners at Liberty Expedia on this transaction was to create
shareholder value by simplifying our corporate and governance
structure and effecting a meaningful reduction in our share count.
We are grateful for Liberty's partnership over the years and look
forward to continued momentum as the world's travel platform."
About Expedia Group
Expedia Group (NASDAQ: EXPE) is
the world's travel platform. We help knock down the barriers to
travel, making it easier, more enjoyable, more attainable and more
accessible. We are here to bring the world within reach for
customers and partners around the globe. We leverage our platform
and technology capabilities across an extensive portfolio of
businesses and brands to orchestrate the movement of people and the
delivery of travel experiences on both a local and global basis.
Our family of travel brands includes: Brand Expedia®, Hotels.com®,
Expedia® Partner Solutions, Vrbo®, Egencia®, trivago®, HomeAway®,
Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®,
Expedia Group™ Media Solutions, Expedia Local Expert®,
CarRentals.com™, Expedia® CruiseShipCenters®, Classic Vacations®,
Traveldoo®, VacationRentals.com and SilverRail™.
© 2019 Expedia, Inc. All rights reserved. Trademarks and logos
are the property of their respective owners. CST: 2029030-50
Forward-looking statements
This communication includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, including
statements of management's plans, expectations, objectives,
projections, beliefs, intentions, goals and statements about the
benefits of the transaction. It is uncertain whether any of the
events anticipated by the forward-looking statements will transpire
or occur, or if any of them do, what impact they will have on the
results of operations and financial condition of the combined
companies or the price of Expedia Group stock. These
forward-looking statements involve certain risks and uncertainties,
many of which are beyond Expedia Group's control, that could cause
actual results to differ materially from those indicated in such
forward-looking statements, including, but not limited to, risks
and important factors contained and identified in Expedia Group's
and Liberty Expedia's filings with the SEC, such as their
respective Periodic Reports on Form 8-K, Quarterly Reports on Forms
10-Q and Annual Reports on Form 10-K, any of which could cause
actual results to differ materially from the forward-looking
statements, the registration statement on Form S-4 (as amended)
filed by Expedia Group and the proxy statement of Liberty Expedia
with respect to the vote of its stockholders to approve the
transactions (that was included as part of the Expedia Group
registration statement on Form S-4).
All forward-looking statements speak only as of the date they
are made and are based on information available at that time.
Expedia Group and Liberty Expedia Holdings do not assume any
obligation to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements were made or to reflect the occurrence
of unanticipated events except as required by federal securities
laws. As forward-looking statements involve significant risks and
uncertainties, caution should be exercised against placing undue
reliance on such statements.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/expedia-group-acquires-liberty-expedia-holdings-300891876.html
SOURCE Expedia Group