Tripadvisor to Merge with Liberty in $435M Stock Buyback Deal
Tripadvisor has announced a $435 million deal to repurchase its Series A and Series B common stock from Liberty TripAdvisor Holdings, marking the end of Liberty’s controlling interest since 2012. The merger, unveiled Thursday, is expected to close in Q2 2025 and involves a buyback of approximately 19% of Tripadvisor’s common stock and Class B shares.
Matt Goldberg, Tripadvisor president and CEO, highlighted the significance of the transaction: “This marks a new era for Tripadvisor, simplifying our capital structure, creating strategic flexibility, and retiring a substantial portion of our shares while maintaining a healthy balance sheet.”
The decision follows Tripadvisor’s special committee formation in February to explore a potential sale, which was abandoned in May. Instead, the committee recommended this buyback to maximize value for stakeholders and position the company for strategic growth.
Greg Maffei, chairman of Tripadvisor and president/CEO of Liberty TripAdvisor, stated: “This transaction simplifies Tripadvisor’s corporate structure, enabling management to focus on their forward-looking strategy. With a more nimble structure, the company can unlock value, particularly in experiences.”
The deal, unanimously recommended by Tripadvisor’s special committee and approved by both companies’ boards, awaits majority approval from Liberty TripAdvisor stockholders.
Founded in 2000 by Steve Kaufer, Tripadvisor has undergone several transitions, from being acquired by IAC in 2004 to becoming a public company in 2011. Liberty Interactive Corporation gained controlling interest in 2012, forming Liberty TripAdvisor Holdings in 2014.
This merger aims to strengthen Tripadvisor’s strategic vision in travel and experiences.
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