Google (GOOG) to Acquire John Wiley's (JW-A) Travel Publishing Assets and Frommer's
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On March 7, 2012, John Wiley & Sons, Inc. (NYSE: JW-A)(NYSE: JW-B), 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 (Nasdaq: GOOG). 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.
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 (Nasdaq: GOOG). 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.
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