By Kevin McCauley
Google has acquired Frommer’s travel brand of more than 300 guidebooks and online resources from publisher John Wiley & Sons for an undisclosed sum.
Frommer’s launched in 1957 with the breakthrough “Europe on $5 a Day” guide. It became part of Wiley in 2001.
Wiley, which is based in Hoboken, N.J., said the divestiture of Frommer’s allows the 200-year-old publisher to focus on its professional/trade offerings.
In March, it announced plans to unload travel, culinary, general interest, nautical, pets, crafts, Webster’s New World, and CliffsNotes properties.
The search engine giant, last year, shelled out $150M for restaurant rater/reviewer Zagat, which has been working to improve the Google+ listing.
A Google spokesperson said the Frommer’s team will be a great addition to the Zagat unit.
Jobs Slashed at Motorola Mobility
Meanwhile, Google is cutting 4,000 people or 20 percent of staffers at Motorola Mobility, which it acquired in 2011 for $12.5B. A third of its 95 offices will be closed.
The mobile devices company lost $233M on $1.3B revenues during its past quarter. Google believes the cutbacks will allow MM to return to profitability. Google will take a $275M charge for the layoffs.
On July 26, MM announced plans to relocate its headquarters from Libertyville, Ill., to downtown Chicago.
“We’re 84 years young, and what better place to continue our commitment to the state, honor our heritage, recruit top talent and usher in a new era of wireless innovation than in the historic Merchandise Mart,” said CEO Dennis Woodside then at a press conference with Mayor Rahn Emanuel.
About 700 of the job cutbacks are in the Chicago area. |