This morning, the Wall Street Journal reported that Google’s has acquired travel brand Frommer’s from longtime publisher John Wiley & Sons and was expected to close “shortly”. Sources close to the matter said that they weren’t expecting it to happen by the end of the day.
But it’s not just Frommer’s that John Wiley & Sons is announcing, it’s also the sale of all of its travel assets. Although it’s not entirely clear what Google plans to do with Frommer’s, it’s possible it could be rolled into search giant’s other recent acquisition – Zagat. The difference between Frommer’s and other sites like Travelocity, Yelp and other curated from crowdsourced reviews as providing internal verified information with vendors – something that could provide a lot of value to travelers.
HOBOKEN, N.J.–(BUSINESS WIRE)–On March 7, 2012, John Wiley & Sons, Inc. (NYSE: JWa, JWb), announced that it intends to explore opportunities to sell a number of its consumer print and digital publishing assets in its Professional/Trade business as they no longer align with the company’s long-term business strategy. Those assets include travel (including the well-known Frommer’s brand), culinary, general interest, nautical, pets, crafts, Webster’s New World, and CliffsNotes.
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. 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.
Founded in 1807, John Wiley & Sons, Inc., has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley and its acquired companies have published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology/Medicine, Physics, Chemistry, and Peace.
Wiley’s core businesses include scientific, technical, medical, and scholarly (STMS) journals, encyclopedias, books, and online products and services; professional/trade books, subscription products, training materials, online applications, and Web sites; and educational materials for undergraduate and graduate students and lifelong learners. Wiley’s global headquarters are located in Hoboken, N.J., with operations in the U.S., Europe, Asia, Canada, and Australia. The company’s Web site can be accessed at www.wiley.com.