You are viewing your 1 free article this month. Login to read more articles.
PRH sells travel brand Fodor's
Penguin Random House is set to sell Fodor’s Travel to Internet Brands, an online media and technology company.
The deal is expected to be completed shortly, but the terms have not been disclosed.
Fodor Travel publishes guidebooks and has a website which receives 4.5m unique visitors a month.
Markus Dohle, c.e.o of Penguin Random House, said that the company had “transformed” from a print to a digital business and that the deal would help the firm “reach its fullest e-commerce potential”.
The companies added that the agreement “reflects the growing value and potential of digital and mobile consumer engagement with travel information and content”.
Fodor’s was founded in 1936 in the US by Eugene Fodor and now publishes 150 print guides, over 250 e-books, 25 mobile apps and has more than 1m subscribers to its daily and weekly newsletters.
Internet Brands also owns other travel websites such as FlyerTalk.com and Wikitravel.org.
Dohle said: “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.”
Bob Brisco, c.e.o at Internet Brands, said the company had an appreciation for Fodor’s history.
“Internet Brands has a proven history of navigating legacy brands to strong growth in the digital world,” he said. “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.”
Penguin Random House will continue to sell and distribute Fodor’s print guides to the book trade on behalf of Internet Brands.
