Google Plans to Buy Frommer’s Travel Guides
By CLAIRE CAIN MILLER
From the NY Times
8:56 p.m. | Updated SAN FRANCISCO — Google made another foray into producing original content Monday when it announced its plans to buy the Frommer’s brand of travel guides from John Wiley & Sons to augment its local and travel search results.
Google will pay about $23 million for the brand, according to a person close to the deal who was not authorized to speak publicly about the terms. The companies declined to comment on the purchase price. It is a small acquisition for Google, but important for several of Google’s up-and-coming businesses.
The deal shows how crucial a business local search and reviews are for Google. It is also the latest evidence that Google is trying to transform itself into a media company — making its mission not just to show the most relevant links from around the Web, but to produce that information as well. Read the full article here.