The Points Guy Owner Red Ventures Buys Lonely Planet
Skift Take
Red Ventures had better keep publishing the print guidebooks or it'll face an uproar among a segment of diehard travelers.
Red Ventures, an owner of digital businesses, has acquired Lonely Planet, a leading global travel media company, from NC2 Media.
The companies didn't disclose the deal terms. Skift's "back-of-the-envelope" estimate is the deal is in the $50 million range, likely all cash. A banker Skift spoke with said that Lonely Planet was a "pretty distressed sale."
Based in South Carolina, Red Ventures owns traveler advice site The Points Guy and other consumer-facing media brands like CNET, Healthline, and Bankrate.
Red said it is "remaining committed to publishing the guidebooks." Lonely Planet has produced more than 150 million travel guidebooks since its founding in 1973.
It was unclear how much cooperation
