Barry Diller often goes against the grain, building up an internet conglomerate at a time when conglomerates are unpopular and then deciding to dismantle what he had built. (That company, IAC/InterActive, is in the process of breaking itself into five pieces.)

So that may make it easier to believe the market rumors that Diller may be planning to take his other venture, travel-services company Expedia, private.

Diller, however, has dismissed the rumors, telling a Reuters reporter: "I am so suspect of current markets and the hedge funds and momentum selling/buying. I think there is a plot behind everything."

Buyouts have become rare since the credit crunch, and Diller is certainly aware of how difficult obtaining financing has become: Expedia was forced to scale back a planned buyback of 117 million shares by 80 percent last summer.

Still, if there is a C.E.O. with the will to make it happen, it would be Barry Diller. (Read Duff McDonald's profile of Diller here.)

Shares of Expedia were up 7 percent on rumors of a more than $4 billion buyout by IAC. After the Diller comments, the shares ended up with a 4 percent gain. Expedia  options were also very active in trading.

Such activity was seen in early April, when the rumor was that Google might be looking to make a bid.

Despite concerns that the weak economy might slow travel bookings, Expedia reported a robust first quarter earlier this month, with earnings rising 48 percent. It has strong cash flow, which would help an acquisition

Diller acquired 51 percent of Expedia for $1.5 billion in 2002. The company was spun off from IAC i 2005.