BBC Worldwide write down nearly £34 million (or $54 million) on the value of Lonely Planet, after paying £42 million earlier this year for the remaining 25 percent of the company outside of its control. (The BBC bought a 75 percent stake in 2007 for £89 million.) “The strength of the Australian dollar in recent years has led to challenging sales conditions for the Lonely Planet business,” said the company in a statement. “This has been compounded by declines since 2008 in key travel guide markets suffering from the impact of the global financial crisis.” The rise in the Australian […]
