BusinessCompany NewsBBC vows to conserve Lonely Planet

BBC vows to conserve Lonely Planet

The finance director of BBC Worldwide has said that its acquisition of Lonely Planet will not spark a financial overhaul of the brand

David King said: ‘This is a leverage and growth play ­ it’s not a cost
reduction and synergy play. It will remain a stand-alone subsidiary.’

The commercial arm, which does not receive funds from the BBC licence fee
purse, bought a 75% stake in the leading travel information group for a reported
£100m this week. Founders Tony and Maureen Wheeler published their first book in
1973.

The BBC division had to bankroll the deal by dipping into its £350m debt
facility, which was renegotiated earlier this year with a syndicate of banks.

For more go to
Lonely Planet

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