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Diller steps down, sells TripAdvisor stake

TripAdvisor enables users to research and plan cruises and other types of trips.

James Morgan /AFP/Getty Images

TripAdvisor enables users to research and plan cruises and other types of trips.

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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.

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