TripAdvisor Inc. shares jumped on news Barry Diller, a former Fox and Paramount executive, is stepping down as chairman and selling his stake in the travel website to Liberty Interactive. Liberty bought 4.8 million shares of TripAdvisor common stock from Diller and the Diller-von Furstenberg Family Foundation for about $300 million, making it the new majority shareholder. Diller will remain a director at Newton-based TripAdvisor. Greg Maffei, Liberty’s CEO, called TripAdvisor a strong addition to Liberty’s portfolio.
Diller steps down, sells TripAdvisor stake
Associated Press December 12, 2012
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