Bellevue’s Expedia will likely split into two publicly traded companies, according to a statement from the company.

Expedia’s Board of Directors reached a preliminary vote to run TripAdvisor Media Group as a public company, while continuing to operate Expedia and the services under its umbrella.

According to the release, the deal will lead to a tax-free distribution of stock of TripAdvisor to Expedia shareholders, or holders of Expedia stock receiving a proportionate share of TripAdvisor shares.

Expedia shareholders need to approve the deal, with the transaction completion date set for the third quarter of the year