[Travel News]: The Points Guy owner Red Ventures buys Lonely Planet aims to provide the latest global travel and free travel news, travel and visa policies, and flight information. We hope to provide insights into tourism market, technology and development trends with everyone by providing the latest relevant information. Despite the raging COVID-19 epidemic in 2020, we always firmly believe that mankind will overcome the disease and the tourism market will definitely recover. look forward to your attention and support, and witness the development of the global tourism industry with us. Looking forward to the information provide can help you. We will continue to follow up and obtain the latest data, and look forward to your attention and support.

The following is the [Travel News]: The Points Guy owner Red Ventures buys Lonely Planet from [Skift] recommended by

NC2 Media owned the travel publisher for about seven years, but struggled to find a footing for the company during the digital age.

Red Ventures, an owner of digital businesses, has acquired Lonely Planet, a leading global travel media company, from NC2 Media.

The companies didn’t disclose the deal terms. Skift’s “back-of-the-envelope” estimate is the deal is in the $50 million range, likely all cash. A banker Skift spoke with said that Lonely Planet was a “pretty distressed sale.”

Red said it is “remaining committed to publishing the guidebooks.” Lonely Planet has produced more than 150 million travel guidebooks since its founding in 1973.

For a while, Lonely Planet has made a push in China.

Now that Red Ventures has two travel properties, The Points Guy and Lonely Planet, some will wonder if it will seek additional opportunistic acquisitions of travel properties, which might sell at lower valuations due to the pandemic.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button