Barry Diller, the chairman of Expedia, recently dismissed rumors of an acquisition of Uber, stating that it is “just not going to happen.” Reports had surfaced that Uber was exploring a potential bid for Expedia Group, considering the industrial combination between the two companies. Uber’s interest was in the early stages, but Diller was clear in stating that a deal was not in the works. This rumored deal was significant given that Uber CEO Dara Khosrowshahi previously served as Expedia Group’s CEO and remains on the board.
When asked about the possibility of Expedia merging or being acquired by another entity, Diller expressed his skepticism, highlighting that the company is entering a period of real growth. With a new CEO, Ariane Gorin, who took on the role earlier this year, Diller believes that Expedia is on the right path to success. He emphasized that now is not the right time for Expedia to exchange its shares and stated his opposition to the company being sold, noting his ability to prevent such actions as a significant shareholder.
Expedia recently reported $3.6 billion in revenue for the second quarter, showing a 6% increase year-over-year. The company’s market capitalization stands at around $20 billion, and its stock has seen a more than 40% increase over the past 12 months. Diller’s comments come ahead of Expedia’s third-quarter earnings report, which will provide further insight into the company’s financial performance and growth trajectory.
Diller also commented on Amazon founder Jeff Bezos and his decision to halt The Washington Post’s tradition of endorsing presidential candidates, as well as reportedly spiking an endorsement of Vice President Kamala Harris. Despite knowing Bezos well, Diller criticized the timing of the decision, calling it a “blunder” that should have been made earlier to avoid the intense backlash surrounding the issue. Bezos, who owns The Washington Post, acknowledged the disappointment regarding the decision and emphasized that the timing was not ideal.
In an interview, Diller shared his perspectives on the potential outcomes of the upcoming election, expressing his preference for seeing former President Donald Trump sent “to the dust heap of history.” As a prominent figure in the media industry, Diller’s views on political and business developments carry weight. His stance on the Expedia-Uber deal, the future of Expedia under new leadership, and his critiques of Bezos’ decisions reflect his deep involvement in various sectors and his influence on key decisions in the business world.
