You will be redirected back to your article in seconds

Diller exits TripAdvisor

Liberty's Malone takes control, streamlines holdings

John Malone continues to streamline his holdings as Liberty Interactive has acquired a chunk of TripAdvisor it didn’t own from Barry Diller.

Liberty spend $300 million to buy about 4.8 million shares for $62.50 a share and took voting control. Diller, head of IAC/Interactive, resigned as chairman of the board but will remain a director of one of the world’s biggest travel sites.

Move comes as sister company Liberty Media is moving to take control of Sirius XM Satellite Radio and split off Starz Entertainment into a separate public company.

Liberty Interactive said its TripAdvisor stake would be housed in its Liberty Ventures tracking stock.

Liberty Interactive is focused on digital commerce including Backcountry.com, Bodybuilding.com, Evite, QVC and interests in HSN and Lockerz. Liberty Ventures holds non-consolidated assets like interests in AOL, Expedia, Interval Leisure Group, Time Warner, Time Warner Cable, Lending Tree and some green energy investments.

Diller acquired TripAdvisor in 2004. It’s grown “from a startup with $23 million in annual revenues to a $5 billion plus public company,” he said. “My only reason for resigning as chairman and disposing of my interests is that I have more obligations than time, and transferring control of TripAdvisor to Liberty is something I’m very comfortable with — Liberty has proven itself a fine steward and leader of its controlled businesses.”

Liberty CEO Greg Maffei said the company is “pleased to take voting control of our long-standing stake in TripAdvisor.”

More Digital

  • 'Star Trek: Discovery' Drives CBS Mobile

    'Star Trek: Discovery' Drives CBS Mobile App Downloads Up by 64% (Study)

    John Malone continues to streamline his holdings as Liberty Interactive has acquired a chunk of TripAdvisor it didn’t own from Barry Diller. Liberty spend $300 million to buy about 4.8 million shares for $62.50 a share and took voting control. Diller, head of IAC/Interactive, resigned as chairman of the board but will remain a director […]

  • China's Baidu Eyes 2018 IPO for

    China's Baidu Eyes 2018 IPO for Streaming Giant iQIYI (Report)

    John Malone continues to streamline his holdings as Liberty Interactive has acquired a chunk of TripAdvisor it didn’t own from Barry Diller. Liberty spend $300 million to buy about 4.8 million shares for $62.50 a share and took voting control. Diller, head of IAC/Interactive, resigned as chairman of the board but will remain a director […]

  • Amazon Alexa mobile

    Amazon Music App Is Getting Alexa-Powered Voice Control

    John Malone continues to streamline his holdings as Liberty Interactive has acquired a chunk of TripAdvisor it didn’t own from Barry Diller. Liberty spend $300 million to buy about 4.8 million shares for $62.50 a share and took voting control. Diller, head of IAC/Interactive, resigned as chairman of the board but will remain a director […]

  • plex-news-hero

    Plex Adds Curated News on Apple TV, Android TV, Roku and Mobile

    John Malone continues to streamline his holdings as Liberty Interactive has acquired a chunk of TripAdvisor it didn’t own from Barry Diller. Liberty spend $300 million to buy about 4.8 million shares for $62.50 a share and took voting control. Diller, head of IAC/Interactive, resigned as chairman of the board but will remain a director […]

  • NLF Rams

    Amazon's Big NFL Play Could Kick Off a Shake-Up in TV Sports Rights

    John Malone continues to streamline his holdings as Liberty Interactive has acquired a chunk of TripAdvisor it didn’t own from Barry Diller. Liberty spend $300 million to buy about 4.8 million shares for $62.50 a share and took voting control. Diller, head of IAC/Interactive, resigned as chairman of the board but will remain a director […]

More From Our Brands