Pauline
Forums Admin
Interesting article in the April issue of Outside magazine, about the travel book series Lonely Planet and their new owner.
Outside: The 25-Year-Old at the Helm of Lonely Planet
Last year, a media-shy billionaire bought the flailing Lonely Planet travel-guide empire, then shocked observers by hiring an unknown 24-year-old former wedding photographer to save it. Charles Bethea straps in for a bizarre ride as a kid mogul tries to remake a legendary brand for the digital age.
From the article: Lonely Planet, the Melbourne, Australia, guidebook company, seller of 120 million books, was struggling. In 2007, the BBC had bought Lonely Planet from its founders, Tony and Maureen Wheeler, for $210 million. Profits had since cratered due to the global recession, appreciation of the Australian dollar, and the struggling book industry. Kelley offered $77 million for the company and closed the deal on April 1, 2013. There was no search for a new boss; he'd already tapped Houghton to captain the sinking ship.
Outside: The 25-Year-Old at the Helm of Lonely Planet
Last year, a media-shy billionaire bought the flailing Lonely Planet travel-guide empire, then shocked observers by hiring an unknown 24-year-old former wedding photographer to save it. Charles Bethea straps in for a bizarre ride as a kid mogul tries to remake a legendary brand for the digital age.
From the article: Lonely Planet, the Melbourne, Australia, guidebook company, seller of 120 million books, was struggling. In 2007, the BBC had bought Lonely Planet from its founders, Tony and Maureen Wheeler, for $210 million. Profits had since cratered due to the global recession, appreciation of the Australian dollar, and the struggling book industry. Kelley offered $77 million for the company and closed the deal on April 1, 2013. There was no search for a new boss; he'd already tapped Houghton to captain the sinking ship.
