Liberty Interactive to Spin Off Stake in TripAdvisor, BuySeasons

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Liberty Interactive to Spin Off Stake in TripAdvisor, BuySeasons

Liberty Interactive (Interactive group) (NASDAQ:LINTA), owner and operator of a wide range of digital commerce businesses controlled by cable mogul John Malone announced its plan to spin off its stake in TripAdvisor Inc (NASDAQ:TRIP) and BuySeasons business into a new publicly-traded company.

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Liberty Interactive

Liberty Interactive new publicly traded company

According to the Liberty Interactive (Interactive group) (NASDAQ:LINTA), the new publicly-traded company will be named Liberty TripAdvisor Holdings (Trip Holdings).  The company said Trip Holdings will be composed of its 22 percent economic and 57 percent voting interest in TripAdvisor Inc (NASDAQ:TRIP) as well as its Buy Seasons business.

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The stockholders of Series A and Series B common stock of Liberty Interactive (Ventures group) (NASDAQ:LVNTB) on record would receive one share of the corresponding series of Trip Holdings common stock in the spin off. The company will still determine the record date.

BuySeasons is currently under Celebrate Interactive LLC, a subsidiary of Liberty Interactive Corporation, and it will be reattributed to the Liberty Interactive (Ventures Group) (NASDAQ:LVNTB) prior to the spin off. BuySeasons cash equal to fair market value will be reattributed from the Ventures Group to the Liberty Interactive (Interactive Group) (NASDAQ:LINTA).

Stock tracking

Liberty Interactive Corporation also plans to recapitalize the tracking stock of Liberty Interactive (Interactive Group) (NASDAQ:LINTA) into two tracking stocks — QVC Group common stock  and Liberty Digital Commerce common stock.

According to the company, stockholders of Series A and Series B common stock of Liberty Interactive (Interactive Group) (NASDAQ:LINTA) will receive one share of the corresponding series of Digital Commerce common stock for each ten shares of the renamed QVC Group common stock in the recapitalization.

Change in stock symbols

Liberty Interactive Corporation expects the Series A and Series B common stock of Liberty Digital Commerce to trade under the symbols “LDCA” and “LDCB”, respectively. The company also intends to the trade the QVC Group Series A common stock under the ticker symbol “QVCA” and the Series B common stock under the ticker symbol “QVCB.” The stocks will be listed in the Nasdaq stock market.

Liberty Interactive Corporation also disclosed that it repurchased 8.8 million shares of Liberty Interactive (Interactive Group) (NASDAQ:LINTA) Series A common stock at an average cost of $23.47 a share from August 1 to October 4, 2013.

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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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