Expedia buys Orbitz for $1.6B

Expedia has purchased rival service Orbitz in a $1.6 billion deal, the latest acquisition for the online travel business.

According to a report by Bloomberg Business, the purchase will now position Expedia, which also owns Hotwire.com and Trivago, as the top OTA, ahead of competitor Priceline.

In January, Expedia purchased Travelocity for $280 million.