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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Japan to stop pumping radioactive water into sea | 11:29am EDT Scientists find superbugs in Delhi drinking water 07 Apr 2011 New York law now makes choking a crime, results in 2,000 arrests 07 Apr 2011 China concerned at Japan's prolonged nuclear crisis 8:44am EDT Facebook now wants a say in computer hardware 4:47am EDT Discussed 119 U.S. to reach debt limit by May 16: Geithner 81 Stumbling blocks remain in budget fight 75 US Republican budget plan would cut $5.8 trln in 10 yrs Watched NATO air strike hits Libyan rebels Thu, Apr 7 2011 7.4 magnitude quake strikes Japan Thu, Apr 7 2011 High fashion for compassion Thu, Apr 7 2011 small business Is social media the elephant in the room? GoDaddy founder Bob Parsons caused a stir when he posted a video of him killing an elephant on Twitter. It's the latest example of the inherent dangers of social media and small businesses should take heed to avoid pulling a "Parsons." Full Article Managing elephant-sized social media blunders The do's and don'ts of securing a domain name 5 signs you need a marketing makeover Expedia plans to split into 2 companies Tweet Share this By Karen Jacobs ATLANTA (Reuters) - Expedia Inc, the largest online travel agency, said it plans to split into two publicly traded companies through a proposed spin-off of its TripAdvisor business, and its shares shot up 13 percent in after-hours... Email Print Related News Constellation sets FY2012 profit above Street Thu, Apr 7 2011 S&P 500 index edges higher on light volume Wed, Apr 6 2011 Nasdaq index rebalancing slashes Apple's influence Tue, Apr 5 2011 Diamond Foods snacks on Pringles with $1.5 billion buy Tue, Apr 5 2011 FedEx offers strong outlook for this quarter and beyond Thu, Mar 17 2011 Analysis & Opinion From noodles to gasoline The liberal budget response to Paul Ryan Related Topics Technology » Hot Stocks » Asian Markets » Media » Stocks By Karen Jacobs ATLANTA | Fri Apr 8, 2011 6:48am EDT ATLANTA (Reuters) - Expedia Inc, the largest online travel agency, said it plans to split into two publicly traded companies through a proposed spin-off of its TripAdvisor business, and its shares shot up 13 percent in after-hours trading. Analysts said the plan could help unlock value for the high-growth TripAdvisor travel site business as Expedia invests in product enhancements that would bolster its competitive positioning. "While Expedia still makes the majority of the profits of the two companies, the TripAdvisor advertising-based model seems to be the future of the industry," Morningstar analyst Warren Miller said by email. "I expect the move should allow TripAdvisor to flourish a little more outside of the Expedia brand." Expedia, whose chairman is media billionaire Barry Diller, joins a host of companies that have set plans to split and spin off units this year, including diversified manufacturer ITT Corp and food company Sara Lee Corp. The separation "allows the two businesses to be pure plays and to operate with the proper amount of focus to grow respectively," Chief Executive Dara Khosrowshahi told Reuters on Thursday. He said no big changes were expected from a management perspective, and added there were no plans to sell TripAdvisor. TAX-FREE DEAL Under the separation, the new TripAdvisor would include operations of the current TripAdvisor Media Group travel advisory business that includes 18 popular travel brands, and Expedia Inc would continue to comprise transaction brands such as Expedia.com, Hotels.com, Hotwire and carrentals.com. The transaction, intended to be tax free, is expected to take the form of a spin-off of TripAdvisor stock to Expedia shareholders or a reclassification of Expedia shares, with holders receiving a proportionate amount of TripAdvisor stock, Expedia said. Frederick Moran, an Internet analyst with Benchmark, said Expedia shares have trailed rival Priceline.com in performance because of weaker-than-expected earnings growth as it looks to reinvest in its business. Expedia's stock was down about 10 percent so far this year before the Thursday announcement, while Priceline.com has gained 27 percent. Orbitz Worldwide, which is in a distribution dispute with AMR Corp's American Airlines, is down about 39 percent this year. Moran said Expedia's 2011 forecast was below expectations and called for essentially no growth in earnings because of needed investments in technology in the face of higher competition. "Priceline has shown tremendous growth over in Europe and Asia and Expedia has fallen behind them in that regard," Moran said. "So Expedia not only wants to protect their leading market share in the U.S. but also wants to globalize in order to compete and investment is required to do so." Moran added: "Unlocking TripAdvisor into its own enterprise clearly could help the recognition of hidden shareholder value at a time when the stock has obviously underperformed." Yet debt-rating agencies Fitch and Standard & Poor's warned they may cut certain Expedia ratings. S&P said it believed the separation of TripAdvisor could "reduce Expedia's growth rate, EBITDA margin and discretionary cash flow generation." 1 2 Next Technology Hot Stocks Asian Markets Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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