![]() The organisation blames a charge on rising costs thanks to the sky-high strength of the Australian dollar, arguing that despite a challenging year the business put in a "solid underlying performance". The commercial arm of the BBC also revealed that it has been forced to take a £16.1m "charge to the income statement" in the year to the end of March, leaving the goodwill value of Lonely Planet at just £22.6m on its books. ![]() The BBC's total investment upped to £130.2m when Tony and Maureen Wheeler, who founded Australia-based Lonely Planet in 1973, exercised an option to sell their remaining stake in February last year.īBC Worldwide revealed on Monday that it now values the business at £85m. ![]() BBC Worldwide has written down the value of Lonely Planet by almost £50m since acquiring the guidebook publisher in 2007, as the business struggles to cope with high costs and the transition to digital and TV.īBC Worldwide sparked widespread criticism that it was over-reaching its remit when it acquired a 75% stake in Lonely Planet in 2007 for £88.1m, not least from Time Out founder Tony Elliott. ![]()
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