Liberty Interactive spinning off CommerceHub and Expedia Holdings
Liberty Interactive is spinning off two new units, CommerceHub and Liberty Expedia Holdings.
Travel firm Expedia’s parent company is splitting off its e-commerce software division to CommerceHub. Liberty Expedia Holdings, meanwhile, will include the group’s full 18 per cent stake in Expedia, but also the site bodybuilding.com.
Expedia recently posted bookings up by 21 per cent, sending the company's share price soaring.
Read more: Expedia buys Orbitz for $1.34bn
Greg Maffei, president and chief executive of Liberty Interactive, said:
We believe the spinoffs should unlock value for our Liberty Ventures shareholders in an efficient manner and increase focus on the remaining attributed assets of Liberty Ventures.
CommerceHub will continue to be led by Frank Poore, the founder and now chief executive of the newly-formed company.