Red Ventures, a platform of digital businesses, has acquired global travel media company and guidebook brand Lonely Planet from NC2 Media for an undisclosed amount.
Earlier this year, Lonely Planet was forced to drastically reduce its publishing and close its London and Melbourne offices "almost entirely", as a result of the coronavirus crisis. It also shuttered its line of non-guidebooks, which included children's books, and no longer published the Lonely Planet magazine.
"While the travel industry is experiencing an unprecedented downturn, we believe it will come back stronger than ever, and no brand represents the magic of the modern explorer better than Lonely Planet," said Red Ventures co-founder and c.e.o. Ric Elias. "By joining our travel portfolio, Lonely Planet positions us to revolutionise the consumer journey for travellers, helping more people discover and decide where they'll go, how they'll get there, and what to do when they arrive."
Red Ventures has said it aims to "propel Lonely Planet into the digital era", while being committed to publishing guidebooks. The company has stated Lonely Planet employees around the world will join Red Ventures, and the leadership team will remain intact, save for former c.e.o Luis Cabrera, who will remain at NC2 Media. Lonely Planet will continue to be run by publisher and vice-president Piers Pickard, based in the UK.
Other companies in Red Ventures' travel portfolio include The Points Guy, an American website that lets customers accumulate and use airline travel points. The platform also acquired CNET Media from ViacomCBS in October.
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