BBC buys Lonely Planet

Big news for whoever missed it. Yesterday, the British Broadcasting Corporation (BBC) purchased the world's largest guidebook publisher Lonely Planet. The deal is reportedly worth $200 million and founders Tony and Maureen Wheeler will retain a 25 percent stake in the company. With book sales sagging and the company not doing as well as it had hoped in online media, joining up with the BBC is expected to help LP in the digital realm.