Big news in the travel publishing world: BBC Worldwide has purchased indie guidebook publisher Lonely Planet. Founders Tony and Maureen Wheeler will retain a 25 percent stake in the company they founded more than three decades ago. Reuters puts the price of the deal at $203 million. Tony Wheeler said he believes the sale will help Lonely Planet stay competitive while allowing the publisher to remain true to its original values. While he and Maureen will now have more time to travel, it wasn’t easy for them to “sell out,” he said. In an audio interview, he told Australia’s ABC, “It’s been 34 years, it’s been our entire working life together…It’s been a long road…although we’re convinced it’s the right thing for the business…it’s a difficult thing to do.” I can’t say I’m terribly surprised.
Read the whole post for more info.
Related: My Gridskipper post from last year, when the Wheelers were in Bangkok for a book signing.
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