The BBC’s commercial arm has agreed to sell its Australian-headquartered travel guide business Lonely Planet to US media firm NC2 Media for AU$75 million (€60 million).
A further AU$60m will be paid on completion of the deal with another AU$15m to follow in a year’s time. NC2 Media is focused on the creation, acquisition and distribution of digital content and counts billionaire US businessman Brad Kelley as its primary shareholder.
The deal follows a commercial review by BBC Worldwide last year, which set out a strategic focus on BBC brands and to promote the corporation’s output globally.
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