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 Sunday, 16 December 2018
BBC Buys Lonely Planet PDF Print E-mail
Written by AAP   
Monday, 01 October 2007

The commercial arm of the British Broadcasting Corporation (BBC) has acquired Lonely Planet, the travel information group founded in Australia in 1972, for an undisclosed sum.

Lonely Planet, which is famous for its international travel guides, is being sold to BBC Worldwide by founders Tony and Maureen Wheeler, and advertising magnate John Singleton who became a shareholder in 1999.

The Wheelers will retain a 25 per cent shareholding in the company.

"Joining BBC Worldwide allows us to secure the long-term future of our company within a globally recognised media group," the Wheelers said in a statement.

"In our discussions with (BBC), we felt that BBC Worldwide would provide a platform true to our vision and values, while allowing us to take the business to the next level."

With significant operations in Australia, the US and UK, Lonely Planet publishes about 500 titles including specialist activity guides, shoestring guides and phrase books in various languages.

The company also produces and develops factual programming for international broadcasters through Lonely Planet Television and online.

"Lonely Planet is a highly respected international brand and a global leader in the provision of travel information," BBC Worldwide chief executive John Smith said.

"This deal fits well with our strategy to create one of the world's leading content businesses, to grow our portfolio of content brands online and to increase our operations in Australia and America."

AAP

Last Updated ( Monday, 01 October 2007 )
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