The Bookseller.com

2nd December 2008

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BBC acquires Lonely Planet

01.10.07 Alison Flood

BBC Worldwide has acquired Lonely Planet in a deal it said would build the travel franchise around the world. Joint founders Maureen and Tony Wheeler will retain a 25% shareholding in the business. The sum paid was not disclosed.

The surprise deal, which was announced this morning, will see chief executive Judy Slatyer and her management team staying with Lonely Planet, which will retain its Melbourne headquarters. Lonely Planet is privately owned, and is being sold by Tony and Maureen Wheeler and John Singleton, who became a shareholder in 1999. The company was founded in 1972.

Maureen and Tony Wheeler said that joining BBC Worldwide would allow Lonely PLanet to secure its long-term future. They said: "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."

BBC Worldwide c.e.o. John Smith added: "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 publishes around 500 titles, and also produces and develops factual programming for international broadcasters under Lonely Planet Television.

The deal team was led by BBC Worldwide chief financial officer David King, and Ian Watson, international director of BBC Worldwide. Worldwide's advisors in Australia included Deloitte Corporate Finance and legal advisors Blake, Dawson Waldron.

Etienne de Villiers, non-executive chairman of BBC Worldwide, said: "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.

"It is testimony to BBC Worldwide's reputation that the Wheelers believe we are the right partner to take the business forward, given the many organisations that have approached them over the years. 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--from Michael Palin's New Europe to Planet Earth."

BBC Lonely Planet Alison Flood