Liberty Interactive Now Steers TripAdvisor

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

DJIA 21,310.66 -98.89 -0.46%
NASDAQ 6,146.62 -100.53 -1.61%
S&P 500 2,419.38 -19.69 -0.81%
NIKKEI 225 20,225.09 71.74 0.36%
HANG SENG 25,839.99 -31.90 -0.12%
DAX 12,671.02 -99.81 -0.78%
USD (per EUR) 1.13 0.02 1.40%
USD (per CHF) 0.96 -0.01 -1.22%
JPY (per USD) 112.21 0.35 0.32%
GBP (per USD) 1.28 0.01 0.72%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.