herald

Wednesday 15 August 2018

BBC buys Lonely Planet

BBC Worldwide has bought the remaining 25pc stake in travel guide Lonely Planet that it did not already own for £42.1m (€49.95).

Founders Tony and Maureen Wheeler, who launched the Australian travel publisher in 1973, sold their shareholding under an option agreed when the BBC's commercial arm snapped up 75pc of the company for £88.1m in 2007.

Marcus Arthur, chairman of Lonely Planet and managing director of BBC Worldwide Global Brands, said that the option had enabled the BBC arm to benefit from the Wheelers' experience.

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