Statement on Lonely Planet sale, March 2013
Date: 19.03.2013 Last updated: 23.09.2014 at 09.50
Category: Â鶹ԼÅÄ Worldwide
Diane Coyle, Trust Vice Chairman and chair of the Strategy and Approvals Committee, said:
"The Trust’s strategy for Worldwide now is to focus on Â鶹ԼÅÄ programme content, and Worldwide would not make this sort of acquisition again.Â
"Although this did not prove to be a good commercial investment, Worldwide is a very successful business; and at the time of purchase there was a credible rationale for this deal. Given the significant financial loss to Worldwide, however, we have asked the Â鶹ԼÅÄ Executive to commission a review of lessons learnt and report to the Trust with its findings."
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