Wiley confirms Google paid $22 million for Frommer's -- even less than previously believed
Skift Take
It will be interesting to see how the relatively downbeat price that Google paid for Frommer's will impact BBC Worldwide's efforts to find a buyer or partner for Lonely Planet.
John Wiley & Sons confirmed that Google paid $22 million in cash last summer for Wiley's travel publishling business, including Frommer's, Unofficial Guides, and WhatsonWhen.
The transaction, which was effective August 31, 2012, is a tad less than the $23 million to $25 million that had been rumored in the days following the announcement.
Of the $22 million in cash, $3.3 million remains in escrow as it is "related to standard commercial representations and warranties," Wi
