BBC Worldwide Buys Travel Guide Company Lonely Planet
From paidContent:UK: BBC Worldwide, the international commercial arm of BBC, has bought Lonely Planet, the travel information group founded in Australia in 1972, for an undisclosed sum. Founders Tony and Maureen Wheeler will retain a 25 percent share in the company…Besides the 500 odd guides it produces, the company also also produces and develops factual programming for international broadcasters through Lonely Planet Television and has a big presence online and on mobile. full details here.
Oct 1, 2007 1:59 AM ET
Posted In: Money, M&A & Venture Capital, Countries, Europe, UK, Australia & New Zealand
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Oct 15, 2007 1:28 PM
That a succesful empire like Lonely Planet is being sold to BBC Worldwide might come as a surprise, but actually makes sense, as research shows that 80% of consumers are turning to the internet for their travel info, as opposed to published guidebooks, which are often out-of-date by the time they reach the consumer´s hands. Seems that Lonely Planet is switching to the web model pioneered by V!VA Travel Guides (http://www.vivatravelguides.com) where user generated web content is compiled into more up-to-date, less biased printed guidebooks. The BBC is better positioned to move Lonely Planet into this direction, and will help it evolve into the next generation of travel guides.
Jun 18, 2008 2:47 AM
BBC is a co. which understands the new technologies. They are all over the media and also a pioneer in Online Business. Taking stake in cos. like lonely planet is a good move. Best of luck to them