BBC confirms sale of Lonely Planet to U.S. billionaire
Skift Take
The most recognizable travel brand in the world just sold for less than half of what it was worth two years ago despite growing revenues. Here's hoping the new ownership will be able to better harness the brand's tremendous value.
Today BBC Worldwide officials and representatives of U.S. billionaire Brad Kelley announced the sale of Lonely Planet to a company controlled by Kelley for AUS$75 million (£51.5 million).
The announcement confirms Skift's widely reported scoop from two weeks ago about the sale and the buyer. Staff at Lonely Planet's Melbourne headquarters was informed of the deal on Tuesday evening at 5pm to co-incide with an exclusive promised to the UK's Guardian newspaper. Kelley representative and new Lonely Planet Chief Operating Officer Daniel Houghton was in attendance with Marcus Arthur, BBC Worldwide Managing Director of Global Brands.
According the terms of the deal the BBC Worldwide, the commercial arm of the British public broadcaster, is selling the travel brand to NC2 Media, a new Nashville-based digital media company owned by Kelley and run by Daniel Houghton and Michael Rosenblum. Lonely
