Image. Logo of Lonely Planet.
This is based on information from Lonely Planet`s Press Release, 1 October 2007 - London/Melbourne.
The privately owned business is being sold by Tony and Maureen Wheeler, who founded the company in 1972, and John Singleton who became a shareholder in 1999.
John Smith, CEO of BBC Worldwide, said: “We are delighted to be announcing this acquisition today. Lonely Planet is a highly respected international brand and a global leader in the provision of travel information. This deal fits well with our strategy to create one of the world’s leading content businesses, to grow our portfolio of content brands online and to increase our operations in Australia and America.”
Lonely Planet, which has significant operations in Australia, USA and the UK is led by Judy Slatyer (CEO) and her management team, who will be staying with the business. Lonely Planet’s Global Headquarters will continue to be based in Melbourne.
Maureen and Tony Wheeler, joint founders, who will retain a 25% shareholding in the company, said: “Joining BBC Worldwide allows us to secure the long-term future of our company within a globally recognised media group. In our discussions with John and his team, we felt that BBC Worldwide would provide a platform true to our vision and values, while allowing us to take the business to the next level.”
Etienne de Villiers, Non-executive Chairman of BBC Worldwide, commented: “Closing this prestigious deal is a great feather in the cap for BBC Worldwide, its management and the BBC overall. It is further evidence of BBC Worldwide’s ability to become a major international media player.
“It is testimony to BBC Worldwide’s reputation that the Wheelers believe we are the right partner to take the business forward, given the many organisations that have approached them over the years. We are all convinced that the association will strengthen Lonely Planet’s visibility and growth potential, particularly in the digital arena, as well as providing their users access to the wide range of BBC content which connects with their interests - from Michael Palin’s New Europe to Planet Earth.”
Lonely Planet publishes around 500 titles including specialist activity guides, shoestring guides and phrasebooks. It publishes in various languages, including English, French, German, Italian, Japanese, Korean, Mandarin and Spanish. The company also produces and develops factual programming for international broadcasters (Lonely Planet Television). Its flagship TV series, Lonely Planet Six Degrees, produced for Discovery Networks, is now in its third season, and screens in over 100 countries. Meanwhile, Lonely Planet’s travel video site, lonelyplanet.tv, is establishing a valuable online community of independent travellers, allowing travellers to upload and watch their own video as well as view videos created by Lonely Planet.
Earlier this year BBC Worldwide announced its intention to increase activity in the Australian market, as part of a wider global strategy to focus on key territories. In February this year, BBC Worldwide took a 25% stake in Freehand Productions as a first step to becoming a leading international content producer in Australia.
Welcoming the transaction, Maureen and Tony Wheeler concluded: “We will remain completely focused on the delivery of unique content to our travellers around the world. We are very optimistic about the prospects for the Lonely Planet brand under the BBC Worldwide umbrella.”
The deal team was led by David King, Chief Financial Officer, BBC Worldwide and Ian Watson, International Director, BBC Worldwide. Worldwide’s advisors in Australia included Deloitte Corporate Finance and legal advisers Blake, Dawson Waldron.
For further information, please contact:
Australia
Anna Bolger anna.bolger@lonelyplanet.com.au, tel: +61 3 8379 8000
Simone McNamara simone.mcnamara@lonelyplanet.com.au,
tel: +61 3 8379 8000
UK
Angela Wilkinson angela.wilkinson@lonelyplanet.co.uk
tel: +44 (0) 20 7841 9010
USA
Frank Ruiz frank.ruiz@lonelyplanet.com
tel: +1 510-893-8556 ext 151
Notes to Editors:
About BBC Worldwide
BBC Worldwide Limited is the main commercial arm and a wholly owned subsidiary of the British Broadcasting Corporation (BBC). The company exists to maximise the value of the BBC’s assets around the world for the benefit of the licence payer and invest in public service programming in return for rights. The company has six core businesses: Global Channels, Global TV Sales, Content & Production, Magazines, Home Entertainment and Digital Media. In the year to end March 2007, BBC Worldwide generated profits of £111.1 million on sales of £810.4 million. www.bbcworldwide.com
BBC Worldwide runs its Australasian operation from offices in North Sydney, where it has grown from one desk in the 1960s to a team of 40 people, active across all six of the company’s core businesses. It is responsible for introducing hit multi-platform BBC brands to Australian and New Zealand audiences, such as Dancing with the Stars, Doctor Who, Planet Earth and Top Gear. It is part-owner of subscription network UK.TV, and brings local Australian content to the global marketplace through its local production partner Freehand.
About Lonely Planet
Lonely Planet is a leading independent global travel information company. It is renowned for its first-hand approach, up-to-date maps and commitment to providing the best information for travellers. The guides cover must-see spots, but also encourage travellers to get off the beaten track and understand more of the nature, culture and environmental concerns in each country. Lonely Planet currently has over 360 writers, researcher and photographers and publishes around 500 titles. Lonely Planet Television produces and develops factual programming for international broadcasters.
Lonely Planet was founded after Tony and Maureen Wheeler left London and hit the road in search of adventure in 1972. They travelled overland across Asia and landed in Australia where, due to incessant questions from would-be travellers, they compiled their journey notes and stapled together their first travel guide; Across Asia on the Cheap. www.lonelyplanet.com
For further information contact Lonely Planet Asia-Pacific,
View Press Release overview: http://www.lonelyplanet.com/pressroom/news/press.cfm
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