Sale of Lonely Planet Confirmed
After weeks of speculation, BBC Worldwide, the for-profit division of the U.K. media organization, confirmed the sale of Lonely Planet to semi-reclusive tobacco billionaire Brad Kelley. As The New York Times' Eric Pfanner reported, Kelley's company, NC2 Media, will acquire the Australia-based guidebook publisher for $77.8 million, a little more than half of what BBC Worldwide paid for it. (Rumors of the deal was first broken by Skift.)
In an email interview with Skift's Jason Clampet, Lonely Planet's incoming C.O.O. Daniel Houghton affirmed the company's respect for its core asset, the print editions of its guides: "Lonely Planet will continue to be committed to its roots in publishing and providing quality information to travellers around the world. We are committed to all mediums, and print will continue to be a part of the mix."