Liberty Spins Off TripAdvisor Controlling Stake Into New Entity

Shares of TripAdvisor dropped on Thursday making it TheStreet's Move of the Day.
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Shares of TripAdvisor dropped on Thursday making it TheStreet's Move of the Day. John Malone’s Liberty Interactive Corp announced a day earlier it had finalized the spinoff of its majority voting stake in TripAdvisor. Its 57% stake will now be traded as a separate public company under the name Liberty TripAdvisor Holdings. Liberty had held the controlling interest since acquiring 4.8 million shares of stock in 2012 from IAC chairman Barry Diller and the Diller-von Furstenberg Family Foundation. Prior to TripAdvisor’s IPO in December 2011, the company was part of IAC’s media conglomerate.

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