John Malone's Liberty Interactive Corp took control of travel information website TripAdvisor Inc from veteran media mogul Barry Diller.Liberty disclosed on Tuesday it bought about five million shares of common stock of TripAdvisor from Diller and the Diller-von Furstenberg Family Foundation at a price of $62.50 per share or about $312 million.The deal represents a significant "control premium," said James Dobson, an analyst with the Benchmark Co.Shares of TripAdvisor were up 7.8 percent at $41.39 in midday trade. Liberty shares fell 1.15 percent to $18.92.
Liberty Interactive Corporation (Liberty), formerly Liberty Media Corporation, owns interests in subsidiaries and other companies which are primarily engaged in the video and on-line commerce industries. Shares of LINTA fell by 1.36% or $-0.26/share to $18.88. In the past year, the shares have traded as low as $15.13 and as high as $20.95. On average, 3955610 shares of LINTA exchange hands on a given day and today's volume is recorded at 2142358.
TripAdvisor, Inc. (TripAdvisor) is an online travel research company, enabling users to plan and have a trip. Shares of TRIP traded higher by 7.79% or $2.99/share to $41.38. In the past year, the shares have traded as low as $23.99 and as high as $47.81. On average, 2744890 shares of TRIP exchange hands on a given day and today's volume is recorded at 7499642.
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