Liberty Interactive Now Steers TripAdvisor

Before you go, we thought you'd like these...
Before you go close icon

Online travel planningJohn Malone's Liberty Interactive Corp. (NASDAQ: LINTA) this morning announced that it has acquired a controlling interest in TripAdvisor Inc. (NASDAQ: TRIP) in a transaction worth $300 million. Liberty acquired approximately 4.8 million shares of TripAdvisor from Barry Diller and the Diller-von Furstenberg Family Foundation. Diller is chairman and CEO of IAC/InterActiveCorp (NASDAQ: IACI) and the husband of fashion designer Diane von Furstenberg.

Liberty has said that its stake in TripAdvisor will be "attributed" to its Liberty Ventures (NASDAQ: LVNTA) tracking stock. Liberty Ventures holds the company's nonconsolidated assets, which include stakes in AOL Inc. (NYSE: AOL), Expedia Inc. (NASDAQ: EXPD), Time Warner Inc. (NYSE: TWX) and Time Warner Cable (NYSE: TWC), among others.

TripAdvisor's travel planning services dovetail nicely with Expedia's travel booking business and may be Liberty's response to the recent $1.8 billion Priceline.com Inc. (NASDAQ: PCLN) buyout of Kayak Software Corp. (NASDAQ: KYAK). Liberty's acquisition of control of TripAdvisor is likely not intended to compete with the Priceline/Kayak duo as much as it is a potential growth driver for Expedia and ultimately Liberty.

TripAdvisor's shares are up about 9.2% at $41.79 in a 52-week range of $23.99 to $47.81.

Liberty Interactive's shares are up 0.1% at $19.16 in a 52-week range of $15.13 to $20.95.

Liberty Ventures' shares are up 9.1% at $63.90 after posting a new 52-week high of $64.22 earlier today. The previous range was $40.00 to $59.81.

Paul Ausick


Filed under: 24/7 Wall St. Wire, Internet, Technology Companies Tagged: AOL, EXPD, IACI, KYAK, LINTA, PCLN, TRIP, TWC, TWX
Read Full Story

Markets

S&P 500 2,259.53 13.34 0.59%
DJIA 19,756.85 142.04 0.72%
NASDAQ 5,444.50 27.14 0.50%
DAX 11,203.63 24.21 0.22%
HANG SENG 22,760.98 -100.86 -0.44%
NIKKEI 225 18,996.37 230.90 1.23%
USD (per EUR) 1.06 0.00 0.05%
USD (per CHF) 1.02 0.00 0.02%
JPY (per USD) 115.39 0.02 0.01%
GBP (per USD) 1.26 0.00 -0.01%

From Our Partners