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Saturday, July 6, 2013
Skift: BBC Sells Lonely Planet To Nashville-Based Media Company
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SkiftTravel intelligence company GET UPDATES FROM Skift Like 6 BBC Sells Lonely Planet To Nashville-Based Media Company Posted: 03/19/2013 7:00 am Read more
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Today BBC Worldwide officials and representatives of U.S. billionaire Brian Kelley announced the sale of Lonely Planet to a company controlled by U.S. billionaire Brad Kelley for AUS$75 million (£51.5 million).
The announcement confirms Skift's widely reported scoop from two weeks ago about the sale and the buyer.
According the terms of the deal the BBC Worldwide, the commercial arm of the British public broadcaster, is selling the travel brand to NC2 Media, a new Nashville-based digital media company owned by Kelley and run by Daniel Houghton and Michael Rosenblum. Lonely Planet CEO Matt Goldberg is stepping down from his post.
BBC Worldwide and NC2 Media issued a joint statement which read in part:
BBC Worldwide has been exploring strategic options for Lonely Planet over the last year and was keen to find a new owner that could bring greater focus and capital to the business.
Paul Dempsey, Interim CEO BBC Worldwide, says: "We acquired Lonely Planet in 2007 when both our strategy and the market conditions were quite different. Since then, Lonely Planet has increased its presence in digital, magazine publishing and emerging markets whilst also growing its global market share, despite difficult economic conditions. However, we have also recognised that it no longer fits with our plans to put BBC brands at the heart of our business and have decided to sell the company to NC2 Media who are better placed to build and invest in the business. This deal begins a new chapter for Lonely Planet and signifies the end of one for BBC Worldwide."
The BBC Worldwide had paid a total of £130.2 million over four years to buy Lonely Planet. This selling price represents nearly an £80 million loss in value during the BBC's ownership. This is despite an increase in both revenue and profit during the period. According to the BBC, "during the time BBC Worldwide has owned Lonely Planet its annual revenue has grown from £810m in 2007 to £1.08bn in 2012 - with profit increasing from £111m in 2007 to £155m in 2012."
The BBC Trust issued a statement criticizing BBC Worldwide's decision and the loss in value, stating ""Given the significant financial loss to Worldwide ... we have asked the BBC executive to commission a review of lessons learnt and report to the Trust with its findings."
Early reports state that offices in Oakland, CA, Melbourne, and London will continue to operate as is.
According to friends of Kelley we have spoken to, any acquisitions he makes are always well thought out: He's incredibly thorough, doesn't overpay, doesn't do vanity buys, and looks at them long term. Sources say Kelley -- whose primary residence is now in Boca Grande, FL -- is more likely the second or third largest landowner in U.S., as he downplays his holdings and a lot of his deals to buy land never surface in media.
his sale finally comes after BBC has sat on a LP sale decision for a few years now, going back and forth on their thinking of what to do with the brand that it bought at an inflated valuation in 2007.
Having bought 75% of Lonely Planet at the height of the bubble in 2007 for $143 million, and the rest in February of 2011 for an additional $67 million, BBC has gone though various bouts of buyer's remorse over the years, but has not acted on it beyond writing down the value of its investment twice. The BBC most recently valued LP at about $135 million, down $78 million since it bought it. About a quarter of LP's revenues now come from digital -- which includes its various mobile apps as well -- and that's where it sees the future for the iconic travel brand.
BBC's thinking on the future of Lonely Planet has likely changed over the 2012 calendar year, in part spurred by its rethink on the future of its commercial efforts and the limits it has on exploiting a complementary Lonely Planet brand and BBC Travel in the UK. And there's also the disappointing reminder of how little its competitor -- and superior in the U.S. -- Frommer's went for in its sale earlier this year to Google.
-- Jason Clampet and Rafat Ali
More on Lonely Planet:Exclusive: BBC selling Lonely Planet to Kentucky cigarette billionaire Brad KelleyLonely Planet and the rapid decline of the printed guidebookHow Lonely Planet is winning the battle on social mediaFollow Skift on Twitter:www.twitter.com/skiftnews
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Wednesday, June 19, 2013
Hi, I own a real estate company and an Adult Webcam Studio
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What's your favorite PSD template designer company?
Hi,
If you have $5000 to make a top quality PSD website design, which company would you chose?
This is an ad that I inserted!
I ask this question because I have been searching for a serious PSD template designer and still no luck, nor a contest at freelancer.com worked.I would appreciate if you suggest serious companies like psd2html.com ( they don't do PSD designs)
Also, I wont chose from this thread, just curious to know about your favorite PSD designers.
Thank you.
Friday, June 14, 2013
Manny Espinoza: Promoting Minority Advancement: Influencing Decision Makers and Company Leadership
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Manny EspinozaCEO at ALPFA GET UPDATES FROM Manny Espinoza Like 5 Promoting Minority Advancement: Influencing Decision Makers and Company Leadership Posted: 03/13/2013 4:09 pm Follow
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Continuing my series on Promoting Minority Advancement, I want to share how employees can influence decision makers and company leadership to promote diversity practices. Regardless of where you fall in the organizational hierarchy, you have the ability to demonstrate leadership within your company.
Understand the political climate and organization culture of your company -- Who sits on the firm's Diversity Taskforce? How many degrees of separation exist between you and these individuals? Is the timing appropriate for a discussion on the firm's current practices? Knowing who to speak with, when to approach the individual and how to address the subject of minority advancement will make a huge difference in the response you receive. Participate in the Diversity and Inclusion practices that already exist in your workplace -- You need to be more than just knowledgeable about existing programs; by participating directly, you can assess the program and identify what works and what does not. For example, if your firm has a mentorship or sponsorship program but no Latino leaders are participating, you can highlight the limitations of the existing program from your perspective and experience as a Latino employee. By citing your personal experiences (both positive and negative) with the company's existing programs you will add to the impact and credibility of your perspective.
Work towards improving your company's ROI on Diversity and Inclusion practices -- Demonstrating a return on investment is one of the four focus areas present in effective workplace environments supportive of promoting minorities. Companies routinely measure whether their diversity efforts are increasing revenue and the bottom line. If you work in a role that brings in revenue for your company, participate in the firm's diversity programs and are great at your job, you are an example that the company's investment in these programs is well served.
Be prepared to present your ideas -- If you are successful in getting a meeting with one of the company's Diversity and Inclusion decision makers, there is going to be an expectation that you are coming to the table with ideas and recommendations. Your ideas should be scalable, well thought out and executable. If an investment is required, you should have a plan for where the resources will come from or demonstrate how the company can see a return on their investment.
Get involved in external diversity organizations -- Direct involvement in organizations like ALPFA, NABA and Ascend will broaden your understanding and knowledge of diversity and inclusion issues. Getting involved in external organizations offers you an opportunity to hone your leadership abilities in a different setting and expand your professional skills. It also gives you access to a network of professionals, executives and speakers that could help your efforts to influence your company's leadership. You can serve as a liaison and perhaps relationship manager between your firm and the partner organization.
In the final installment of the series, we are going to look at what Diversity and Inclusion looks like in minority-owned companies. On first glance, it can appear that these companies would not need to invest or develop diversity programs, policies or practices. But, the reality is that diversity and inclusion are not limited to companies looking to recruit, hire and retain minority employees. Diversity and inclusion also impacts business development and supplier diversity practices. These areas are of particular interest to any company looking to remain competitive in today's global market.


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