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BBC Worldwide Completes Lonely Planet Purchase

BBC Worldwide will pay $67.2 million to complete the purchase of travel guide publisher Lonely Planet.

Back in 2007, BBC had acquired 75 percent of the company for nearly $142.8 million. This deal gives BBC the remaining 25 percent of the company. On the digital side, the company enjoys 8.5 million unique users on their website and has produced 140 applications.

The Guardian reports: “A strategy to grow non-print revenues – digital revenues rose 37% year on year in the 12 months to the end of March 2010 – and spinoff products such as a Lonely Planet magazine has pushed the business back into the black with profits of £1.9m [$3 million]. Lonely Planet’s non-print revenues have grown from 9% in 2007 to 22% in the year to the end of March 2010.”

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