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Homeaway focuses on vacation rentals and is in a very different market than Expedia and Orbitz.

It's not out of the realm of possibilities, but Expedia and Orbitz are much closer competitors than either would be with Homeaway.

There is a lot of back story you aren't aware of.

This is not an "if" it's a "when".

They have been in bed together for years now. This is coming from someone who works specifically in the Vacation Rental industry.

Expedia syndicates HomeAway listings on their site now.

At Homeaway's most recent national conference it seemed pretty clear that this was the first step in acquisition.