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Archive for October 28th, 2009

lonely_planet“It was bought amid a flurry of raised eyebrows and has sat uneasily in a global broadcasting and media stable ever since — and yesterday Lonely Planet was once again the subject of speculation, uncertainty and possibly even a little controversy.

“The backpackers’ essential guides to, well, pretty much everywhere may, it seems, be heading back into the uncharted territory of the marketplace, barely two years after BBC Worldwide paid £90 million for the company.

“As part of Lonely Planet takeover in October 2007, its founders Tony and Maureen Wheeler, who published their first guide — South East Asia on a Shoestring — 34 years ago, were left with a 25 per cent stake, valued at A$67.3 million before the credit crunch, which they could have sold to the BBC at any time before Saturday.

“However, BBC insiders said yesterday that the Wheelers’ put option had been extended, triggering speculation that the broadcaster is preparing to offload the travel publisher, whose original purchase has so damaged its reputation.” (cont’d @ Times Online)

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