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Microsoft Sale of Expedia Stake to USA Networks Delayed | |
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| Time: 13:04 EST/18:04 GMT | News Source: Microsoft Press Release | Posted By: Byron Hinson | ||
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Microsoft Corp. today announced that the closing of the company’s sale of its stake in Expedia Inc. to USA Networks Inc. would be delayed as a result of USA Network’s announcement of a transaction involving the transfer of its entertainment assets to a joint venture with Vivendi Universal. Microsoft announced the sale of its Expedia stake to USA Networks in July 2001, and anticipated closing during the quarter ending Dec. 31, 2001. The transaction, which was expected to result in a pretax gain of about $650 million, is now expected to close during the March or June quarter of 2002. | ||
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