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BBC buys control of travel guidebook publisher Lonely Planet

From the Associated Press
08:15 AM PDT, October 01, 2007

LONDON — The British Broadcasting Corp. (BBC) said today that it bought a 75-percent stake in the Lonely Planet travel guides.


Editor's note: Read about the Lonely Planet-BBC deal details and share your thoughts on our Daily Travel Blog.


BBC Worldwide Ltd. did not disclose how much it paid for control of the guides, based in Melbourne, Australia.

Founders Tony and Maureen Wheeler [video opens in new window] will keep a 25-percent stake.

The current management team, led by Chief Executive Judy Slatyer, will remain in place. Lonely Planet has operations in Australia, Britain and California.

"We are all convinced that the association will strengthen Lonely Planet's visibility and growth potential, particularly in the digital arena, as well as providing their users access to the wide range of BBC content which connects with their interests," said Etienne de Villiers, non-executive chairman of BBC Worldwide.

BBC Worldwide is the main commercial arm of the BBC, generating profits of 111.1 million pounds (159.5 million euros, $227.5 million) on sales of 810.4 million pounds (1.16 billion euros, $1.66 billion) in the year ending March 31.

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