Google to Buy Frommer’s Travel Guides
Google will buy the Frommer’s travel guide from John Wiley & Sons, Inc., the publishing company announced Monday.
“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,” Wiley said in a statement on its website. “Proceeds from this sale, and others that may arise from the sale of other consumer assets, will be redeployed to support growth opportunities in Professional/Trade; Scientific, Technical, Medical, and Scholarly; and Global Education businesses.”
Financial terms were not disclosed, but The New York Times, in its Media Decoder blog said Google will pay about $23 million for Frommer’s.