After a vague and weak denial last month when travel site Skift first reported the deal in progress, the BBC has now confirmed its sale of Lonely Planet to little-known billionaire Brad Kelley’s NC2 media. Selling for £51.5 million ($77.3 million), the sale is now raising the expected criticism in the UK as the British public confronts the full fiasco of the broadcaster’s diversion into travel publishing. The BBC already took £50 million in writedowns on the total £130 million purchase price for Lonely Planet, and the sale is an admission that even those writedowns were not sufficient to account […]
