PRH to sell travel business Fodor’s
Penguin Random House (PRH) will sell its travel business Fodor’s to US online media and technology company Internet Brands for an undisclosed sum, reports Publishers Weekly. PRH and Internet Brands said the deal, which is expected to be completed soon, ‘reflects the growing value and potential of digital and mobile consumer engagement with travel information and content’. Fodor’s website currently receives more than 4.5 million unique visitors a month, with over one million subscribers to its daily and weekly newsletters. It also publishes more than 150 print guides, over 250 ebooks and 25 mobile apps. PRH CEO Markus Dohle said: ‘For Fodor’s to now reach its fullest e-commerce potential we believe the best path forward is for it to become part of Internet Brands: highly motivated tech entrepreneurs and content creators who share our passion for the brand, and have the focus, drive, and resources to deliver greater benefits to consumers and to business partners from Fodor’s online presence.’ Fodor’s will continue to be based in Random House’s offices in New York and will be overseen by Internet Brands’ head of travel Joy Lai.
Category: International news