John Malone’s Liberty Interactive paid $300 million to acquire a majority stake in travel ratings website TripAdvisor. Liberty disclosed that it purchased some 4.8 million shares of common stock from IAC chairman Barry Diller and The Diller-von Furstenberg Family Foundation at $62.50 per share. As a result of this deal, Liberty Interactive and its affiliated Liberty Ventures now control 22 percent of the equity and 57 percent of the total votes of TripAdvisor.
Founded more than a decade ago, TripAdvisor is an online travel site that offers advice, booking and planning tools to consumers. It claims to have more than 60 million unique monthly visitors and over 75 million reviews and opinions.
Liberty has stakes in a variety of companies including Home Shopping Network and the operators of Evite.