Liberty Interactive strikes $300 million deal for TripAdvisor Media mogul John Malone's Liberty Interactive Corp. has acquired a controlling stake in TripAdvisor, the popular travel website, from Barry Diller and the Diller-von Furstenberg Family Foundation. Liberty Interactive is spending $300 million for 4.8 million shares of TripAdvisor at $62.50 per share. Liberty will now hold nearly 60% of voting stock and more than 20% of the company's total equity. The purchase price represents a premium of more than 60%. After news of the change of control was announced Tuesday, TripAdvisor stock was up more than 20% from its Monday close of $38.39. Diller resigned as chairman of TripAdvisor but he will remain on the company's board. A new chairman will be named later. "Ever since we acquired TripAdvisor in 2004 it's been one of the smoothest and most trouble-free growth stories I've ever known," Diller said in a statement. During that time it grew from a start-up with $23 million in annual revenues to a $5 billion plus public company with a global brand that operates the world's largest travel site. Boosting Telemundo is top priority for NBCUniversal Kaleidescape, Warner Bros. agree to digitial distribution deal Cable pioneer John Malone says sports costs are out of control INTERACTIVE: TVs highest paid stars QUIZ: Celebrity voice overs