Liberty ups TripAdvisor stake

Investor's Business Daily

Video and Web commerce website owner Liberty Interactive (LINTA) bought about $300 mil shares of online travel site TripAdvisor (TRIP) from billionaire Barry Diller. The move gives Liberty controlling interest. Diller stepped down as chairman, and was replaced by media mogul John Malone. Liberty bought nearly 4.8 mil shares from Diller and the Diller-von Furstenberg Family Foundation for $62.50 a share. Liberty fell 1%. TripAdvisor rose 6.5%.

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