BBC Worldwide has bought the remaining part of Lonely Planet from its founders. BBC has now taken the full control of the company. BBC had paid £42.1m to the Tony and Maureen Wheeler who is the owner of Lonely Planet. It has been informed by BBC's commercial arm on Friday.
Lonely Planet is the leading travel guide company and BBC had bought the 75% of stake in the year 2007.
It had undergone a put option during the time of its acquisition of the controlling stake. After purchasing the controlling stake of this company, now BBC had managed to purchase the remaining 25%. However, its commercial rivals have accused BBC of going beyond its remit.
Lonely Planet was founded by Tony and Maureen Wheeler in the year 1973. The company has managed to establish itself as a leading firm in travel publishing.
After selling the final part of Lonely Planet, its promoters have wished BBC and Planet community to achieve all success in the future.
The publisher has increased its market share from 18 percent to more than 20 percent after 2007 as BBC bought a majority stake in the company.