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BBC Worldwide formalises full ownership of Lonely Planet

BBC Worldwide has announced that it has acquired the outstanding 25% shareholding in Lonely Planet from founders Tony and Maureen Wheeler for AUD$67.2m (£42.1m).

This follows the exercise of a put option over the Wheelers' remaining shares, jointly agreed between BBC Worldwide and the Wheelers at the time of Lonely Planet's acquisition in 2007.

Marcus Arthur, Chairman of Lonely Planet and MD of BBC Worldwide Global Brands, said: "The put option enabled us to benefit from the Wheelers' experience over the last three and a half years. They have supported Lonely Planet's ongoing migration from a traditional book publisher to a multi-platform brand. I would like to wish them the very best in the next phase of their lives."

Tony and Maureen Wheeler, joint founders of Lonely Planet, said: "The last three years have seen Lonely Planet embark on a journey of its own – giving its users and readers ever more choice and utility. We wish the business and the Lonely Planet community every success in the future."