Diller steps aside at TripAdvisor; sells stake

Published on NewsOK Modified: December 11, 2012 at 1:36 pm •  Published: December 11, 2012

The Jefferies analyst kept a "Hold" rating on the stock, saying he was positive about TripAdvisor's long-run prospects but believes the economy and strong competition will hinder it in the short term.

TripAdvisor allows users topost reviews of airlines, hotels and vacation resorts. It gets revenue from advertising on its websites, which include airfarewatchdog.com, bookingbuddy.com and virtualtourist.com. It was spun off from Expedia Inc. in 2011 in an initial public offering of stock.

Greg Maffei, Liberty's president and CEO, called TripAdvisor a leader in the travel industry and said the increased investment in the company will be a strong addition to Liberty's portfolio.

Liberty Interactive Corp. owns shopping websites like the QVC shopping channel and also invests in other companies.