Arab Today, arab today bbc to sell lonely planet at 121m loss
Last Updated : GMT 20:34:30
Arab Today, arab today
Arab Today, arab today

BBC to sell Lonely Planet at $121m loss

Arab Today, arab today

Arab Today, arab today BBC to sell Lonely Planet at $121m loss

London - AFP

The BBC's commercial arm is selling the Lonely Planet travel guide business to a US media firm at a loss of almost £80 million (US$121 million, 93 million euros), the British broadcaster said on Tuesday. NC2 Media will buy Lonely Planet, which publishes hugely popular travel guides in nine languages, for £51.5 million. But the price is a massive 60 percent loss on the £130.2 million that BBC Worldwide spent acquiring the publisher in two chunks in 2007 and 2011. The BBC Trust, the broadcaster's governing body, has ordered a review into the huge loss. "Although this did not prove to be a good commercial investment, Worldwide is a very successful business, and at the time of purchase there was a credible rationale for this deal," said the Trust's vice-chairwoman Diane Coyle. "Given the significant financial loss to Worldwide, however, we have asked the BBC Executive to commission a review of lessons learned and report to the Trust with its findings." The BBC sparked controversy with its purchase of Lonely Planet because its commercial arm had previously been involved in selling BBC productions, rather than buying other firms. The sale comes as Worldwide returns its focus to promoting BBC brands and programmes. Lonely Planet has sold more than 100 million books since it was founded in the 1970s by two travel enthusiasts, husband and wife Tony and Maureen Wheeler. Worldwide stressed that no taxpayers' money from the publicly-funded BBC had been used to buy Lonely Planet. In 2011/12, £3.6 billion (US$3.9 billion, 3 billion euros) of BBC funding came from the "licence fee" on households, while £222 million came from commercial operations. An additional £277 million came from the British government to pay for the World Service international radio broadcaster and the BBC's global media monitoring wing. But state funding for BBC Monitoring and the World Service will end in April 2013 and April 2014 respectively, as the government seeks to slash its budget deficit.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bbc to sell lonely planet at 121m loss Arab Today, arab today bbc to sell lonely planet at 121m loss

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday