Expedia (NASDAQ: EXPE) is a mammoth online travel company. Since its founding in the mid-1990s, the company has gobbled up many of its rivals to become the largest online travel agency in the United States.
Along that journey, media moguls John Malone and Barry Diller (Expedia's chairman) invested in the company. Because of their outsize influence, they received class B common stock and formed a separate company, Liberty Expedia Holdings, to house their shares.
In April, Expedia announced it would acquire Liberty Expedia in a deal that promised to create shareholder value by eliminating the dual-class share structure, making the company easier to value and improving corporate governance. The deal closed in July.