BBC wipes £33.8m off Lonely Planet value

Written By: Graeme Neill Publication Date: Tue, 12/07/2011 - 12:16 BBC Worldwide has written down £33.8m off the value of Lonely Planet, blaming the strong Australian dollar and challenges to the travel sector. The broadcaster bought 75% of the business in 2007 for £89m and paid a further £42m for the remaining shares earlier this year. However, in parent BBC Worldwide's (BBCW) annual report, published today, it revealed the write down. The Lonely Planet business is based in Australia and BBCW blamed the strength of the Australian dollar for £20.7m of the total write down. read more Continue reading at 'The Bookseller'

[ The Bookseller | 2011-07-12 00:00:00 UTC ]

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