Lonely Planet Buys Budget Travel Magazine, Reportedly for $2.4 Million
Skift Take
The struggling magazine is joining a Lonely Planet that's eager for expansion on every travel front.
Travel publisher Lonely Planet has purchased Arthur Frommer's Budget Travel magazine.
"It appears, subject to court approval that we may have been the successful bidder on Budget Travel," Lonely Planet COO Daniel Houghton confirmed to Skift. "The acquisition is part of a continued strategy to improve the assets and resources that Lonely Planet brings to our consumers.”
The purchase price is reportedly $2.4 million,
