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BBC Worldwide acquires Lonely Planet
London based BBC Worldwide, the commercial arm of the BBC (British Broadcasting Corporation), has announced the acquisition of leading travel publisher, Lonely Planet (including Lonely Planet Images). Lonely Planet was founded in 1972 by Tony and Maureen Wheeler and is currently considered to be one of the largest privately owned travel information companies in the world. The more than 30 year old company is being sold by its founders and John Singleton who became a shareholder in 1999. BBC Worldwide has stated plans to further extend the Lonely Planet franchise around the world, Currently Lonely Planet books are sold in over 200 countries via a global distribution network with over 500 titles and more than 6.5 million books sold annually.
John Smith, CEO of BBC Worldwide, had this to say about the acquisition: "We are delighted to be announcing this acquisition today. Lonely Planet is a highly respected international brand and a global leader in the provision of travel information. 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."
Lonely Planet will continue under the leadership of current CEO Judy Slatyer and its global headquarters will remain in Melbourne. The company also has significant operations in the UK, California .
Maureen and Tony Wheeler, joint founders, who will retain a 25% shareholding in the company, said: "Joining BBC Worldwide allows us to secure the long-term future of our company within a globally recognised media group. In our discussions with John and his team, 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."
Etienne de Villiers, Non-executive Chairman of BBC Worldwide, commented: "Closing this prestigious deal is a great feather in the cap for BBC Worldwide, its management and the BBC overall. It is further evidence of BBC Worldwide's ability to become a major international media player.
This acquisition was approved by BBC Trust but specific terms of the transaction have not been disclosed. Click here to view the original press release
Web: www.bbcworldwide.com - www.lonelyplanet.com - www.lonelyplanetimages.com - www.lonelyplanet.tv
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