Liberty Interactive’s John Malone to Join Expedia’s Board
Malone was elected to replace William Fitzgerald, who resigned, according to a U.S. Securities and Exchange Commission filing. Liberty, which is an Expedia shareholder, has the right to nominate two directors to the board based on an agreement signed a year ago.
Malone previously served as an Expedia board member from August 2005 until Nov. 29, 2012. The following day, Expedia released a filing, saying that Pamela Coe, a Liberty executive, was replacing Malone as a director after his resignation. Earlier this month, Liberty bought about $300 million of stock in TripAdvisor Inc. (TRIP), gaining voting control of the travel review site that was spun out of Expedia.
Expedia fell 2.2 percent to $59.59 at the close in New York today. The stock has more than doubled this year.
Representatives from Bellevue, Washington-based Expedia and Englewood, Colorado-based Liberty didn’t return calls for comment.
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