Barry Diller Eyes UK Acquisitions, Including Travel Firms

Barry Diller, the American entrepreneur behind internet conglomerate IAC/InterActiveCorp, is reportedly exploring several potential acquisitions in the UK, including targets in the travel space. In an interview with the Guardian, Diller mentioned that his company is "looking at several things in the UK" and is particularly interested in the travel sector, citing opportunities for "little entrepreneurship" that intrigue him. Cheapflights, a price comparison website, has confirmed it is considering a sale or flotation worth £200m, and handles £1bn in travel sales annually.

Key Takeaways:

• IAC/InterActiveCorp is considering "several" potential acquisitions in the UK, with a focus on the travel space.
• Potential target Cheapflights handles £1bn in travel sales annually, including referrals to British Airways estimated to cover 3% to 4% of BA's sales.
• Cheapflights is considering a sale or flotation worth £200m.
• Diller denied any interest in eBookers and Lastminute, but acknowledged past interest in the companies.
• Expedia, spun off from IAC in a separate stock market listing, has slowed growth in the past year due to increased competition.
• IAC is exploring opportunities in the UK, including a potential daily online comedy show in association with the Huffington Post blog site.
• Michael Jackson, former Channel 4 boss, is programming chief at IAC, overseeing the development of online content.

Statistics:

• £1bn: Annual travel sales handled by Cheapflights.
• £200m: Potential sale or flotation value of Cheapflights.
• £209m: Price paid by Cendant for eBookers in 2004.
• £577m: Price paid by Sabre Holdings for Lastminute in May 2005.
• 3-4%: Estimated percentage of British Airway sales covered by referrals from Cheapflights.
• 2005: Year in which Lastminute was sold to Sabre Holdings.

Sources:

• "Guardian"
• "IAC/InterActiveCorp"
• "Cheapflights"