BBC sells Lonely Planet for £51.5m

BBC Worldwide, the BBC's commercial arm, is to sell its Lonely Planet franchise to US bad media company NC2 Media for £51.5m. Interim CEO BBC Worldwide Paul Dempsey said:

We acquired Lonely Planet in 2007 when both our strategy and the market conditions were quite different. Since then, Lonely Planet has increased its presence in digital, magazine publishing and emerging markets whilst also growing its global market share, despite difficult economic conditions. However, we have also recognised that it no longer fits with our plans to put BBC brands at the heart of our business and have decided to sell the company to NC2 Media who are better placed to build and invest in the business.