John Malone's Liberty Interactive Corp filed with regulators to spin off its stake in travel website TripAdvisor Inc and ownership of online retailer BuySeasons into a separate company valued at about $3 billion.The new company, Liberty TripAdvisor Holdings Inc, will hold Liberty Interactive's 22 percent stake in TripAdvisor and 100 percent ownership of BuySeasons.Liberty TripAdvisor will offer 72.6 million series A common shares valued at up to $3.07 billion and also offer 2.9 million series B common shares, Liberty Interactive said in a regulatory filing on Tuesday. (r.reuters.com/xux98v)Malone, who is also the chairman of Liberty Media Corp and is known as the "King of Cable", is expected to own 29 percent of the voting shares in Liberty TripAdvisor.
Liberty Interactive Corporation owns interests in subsidiaries and other companies which are primarily engaged in the video and on-line commerce industries. Shares of LINTA traded higher by 0.34% or $0.1/share to $29.15. In the past year, the shares have traded as low as $21.68 and as high as $30.68. On average, 2440010 shares of LINTA exchange hands on a given day and today's volume is recorded at 1657599.
TripAdvisor, Inc. (TripAdvisor) is an online travel research company, enabling users to plan and have a trip. Shares of TRIP traded higher by 2.55% or $2.11/share to $84.71. In the past year, the shares have traded as low as $51.72 and as high as $109.79. On average, 2486260 shares of TRIP exchange hands on a given day and today's volume is recorded at 2784183.
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