USA Interactive will acquire the shares of Ticketmaster it does not already in a deal worth about $700 million in stock.
Under the agreement, Ticketmaster shareholders would receive 0.935 of a share of USA common stock for each share of Ticketmaster common stock that they own.
Online marketing giant USA Interactive already owned about 66.5% of the outstanding Ticketmaster stock and controlled 93% of its voting rights. USA Interactive owns Home Shopping Network.
In a related development, USA Interactive, New York, is ending the efforts it began in June to acquire all of the publicly held shares of Expedia Inc. and Hotels.com.
The deal is expected to close by year end.
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