Online travel reviews and recommendation site TripAdvisor has inked a deal with Liberty Interactive Corporation to offload a majority stake in its company for $300 million and provide voting control to Liberty Interactive. Transaction Details As per the deal, TripAdvisor stated that Liberty Interactive has purchased around 4.8 million shares (4,799,848 shares) of common stock from TripAdvisor's chairman Barry Diller at a price of $62.50 per share. Following this transaction, Liberty Interactive now owns around 18.16 million shares (18,159,752 shares) of common stock and 12.8 million shares (12,799,999) shares of Class B common stock of TripAdvisor, which accounts to 22% of the company's equity and 57% of the total votes of all classes of TripAdvisor common stock. TripAdvisor also stated that Diller has resigned from his position as the Chairman of the Board of Directors and as Senior Executive of TripAdvisor but will continue as Board director. The company is yet to announce a new Chairman of the Board. Liberty Interactive Properties Liberty Interactive Corporation currently operates various digital commerce business through two different stock groups - Liberty Interactive Group and Liberty Ventures Group. According to the company website, Liberty Interactive Group manages the company's digital commerce subsidiaries which include Backcountry.com, Bodybuilding.com, Celebrate Interactive (which includes Evite, Gifts.com and Liberty Advertising), CommerceHub, MotoSport, Provide Commerce, QVC and Right Start. It also manages the company's interests in the online shopping portal HSN and the social commerce network Lockerz. On the other hand, Liberty Ventures Group manages the company's business interests in AOL, Expedia, Interval Leisure Group, Time Warner, Time Warner Cable, Tree.com (Lending Tree) and various…
