Orbitz (OWW) to Explore Options for Some Away Network Assets
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Orbitz Worldwide, Inc. (NYSE: OWW) s exploring strategic alternatives for some or all of the assets within the Away Network. The Away Network includes specialized travel content, valuable domain names with strong organic traffic and an active customer base seeking travel news and deals.
Among the Away Network's sites are Away.com, Trip.com, GORP.com, AdventureFinder.com.
"As we assess the prioritization of investments in different areas of our business, in particular in the context of the encouraging trends that we're seeing in hotel, we've made the determination that the elements of the Away Network, either collectively or individually, are likely to be more valuable to other parties," said Sam Fulton, senior vice president of product strategy at Orbitz Worldwide.
The company said that the revenue and adjusted EBITDA associated with the Away Network is immaterial to overall Orbitz Worldwide financial results, and that a sale of some or all of the assets associated with the Away Network would not change the company's earnings outlook for 2013.
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Among the Away Network's sites are Away.com, Trip.com, GORP.com, AdventureFinder.com.
"As we assess the prioritization of investments in different areas of our business, in particular in the context of the encouraging trends that we're seeing in hotel, we've made the determination that the elements of the Away Network, either collectively or individually, are likely to be more valuable to other parties," said Sam Fulton, senior vice president of product strategy at Orbitz Worldwide.
The company said that the revenue and adjusted EBITDA associated with the Away Network is immaterial to overall Orbitz Worldwide financial results, and that a sale of some or all of the assets associated with the Away Network would not change the company's earnings outlook for 2013.
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