Diller steps aside at TripAdvisor; sells stake

By Washington Examiner
Published December 11, 2012 7:35pm ET
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Diller steps aside at TripAdvisor; sells stake
Fashion designer Diane von Furstenberg and her husband, media executive Barry Diller, arrive at the Allen & Company Sun Valley Conference in Sun Valley, Idaho. Diller is stepping down as chairman of TripAdvisor after selling his stake in the travel website to Liberty Interactive. Liberty Interactive bought 4.8 million shares of TripAdvisor Inc.'s common stock from Diller and The Diller-von Furstenberg Family Foundation for a total of about $300 million, making it the travel website's new majority shareholder. (AP Photo/Paul Sakuma) | Paul Sakuma

ENGLEWOOD, Colo. (AP) — Barry Diller is stepping down as chairman of TripAdvisor and selling his stake in the travel-website owner to Liberty Interactive.

Liberty Interactive bought 4.8 million shares of TripAdvisor Inc.’s common stock from Diller and The Diller-von Furstenberg Family Foundation for a total of about $300 million, making it the travel website’s new majority shareholder.

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