Google buys Frommer’s travel guide business from John Wiley & SonsBy Angel Cuala on Aug 14, 2012 in Business, Lifestyle, Travel, United States •
Search engine giant Google is buying Frommer’s travel guide business from publishing house John Wiley & Sons Inc. for an undisclosed amount, with the deal being noted as Google’s latest step to transform itself into a media company.
Google and Frommer’s logos
Image Credit: Google and Frommer’s
“We’re thrilled to announce that Frommer’s will soon be part of Google! We can’t wait to start working with our new Google colleagues to bring our content to an even larger audience.” A statement reads at Frommers.com on Monday, August 13, 2012, along with a link to the press release by John Wiley & Sons.
“On August 10, 2012, Wiley entered into a definitive agreement to sell all of its travel assets, including all of its interests in the Frommer’s brand, to Google.” A statement reads at Wiley.com, noting that proceeds from this sale, and others that may arise from the sale of other consumer assets.
According to the press release, Wiley is selling its consumer print and digital publishing assets in its Professional/Trade Scientific, Technical, Medical, and Scholarly; and Global Education businesses, noting that they no longer align with the company’s long-term business strategy.
As noted at the New York Times also that day, a person briefed on the deal but is not authorized to speak publicly about the terms told them that Google paid around $25 million for Frommer’s; and Google declined to comment on the exact price upon the inquiry of the paper.
Apparently, this latest business deal is not the first content business contract for Google, which also bought restaurant reviews website Zagat last September, with some online business analysts saying that Google‘s mission now is not only to show the most relevant information from around the Web, but to produce them as well.
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