Wednesday, June 22, 2016

Penguin Random House Sells Fodor's Travel

Publishers Lunch

Penguin Random House will sell Fodor's Travel to Internet Brands, a Los Angeles-based online media and technology company that owns and Terms of the transaction were not disclosed, and deal is expected to close shortly. Fodor's will become part of Internet Brands' consumer Home/Travel group, though PRH, which acquired the 80-year-old company in 1986, will continue to sell and distribute Fodor's print guides to the book trade on behalf of Internet Brands.

As Fodor's was integrated into a division containing PRH Audio and Living Language, publisher Amanda D'Acierno and publicity director Katie Punia "very much continue with us", according to spokesperson Stuart Applebaum, as do "all those managers who have cross-oversight responsibilities among [D'Acierno's] businesses." The sale comes several months after
a number of Fodor's staffers were laid off at the end of 2015.

Penguin Random House ceo Markus Dohle said in the announcement: "We couldn't be more proud of all that Fodor's has accomplished as a highly popular and innovative travel-content brand, whose own great journey has been its transformation from a print to a digital company, with an outstanding digital portfolio to match the quality of its iconic print guides. 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. We look forward to working with Internet Brands to ensure that Fodor's print guides continue to thrive."

Internet Brands ceo Bob Brisco added: "The Fodor's name is legendary, and we have a deep appreciation for its history and the direct impact Fodor's has on the way people explore new places. Internet Brands has a proven history of navigating legacy brands to strong growth in the digital world. We're confident that Internet Brands is the ideal partner to ensure that the Fodor’s brand continues to guide travelers for generations to come.

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