Microsoft Expedia Deal, Huge Gain Delayed
Reuters | at | by Mike
Microsoft Corp. said Tuesday that the sale of its stake in Expedia Inc. to USA Networks Inc. has been delayed, along with its projected $650-million gain on the deal. The deal -- now expected to close during the March or June quarters as a result of USA's deal with Vivendi Universal -- was expected to result in a pretax gain of about $650 million. It was initially slated to close in the quarter ending December 31, Microsoft said in a statement.