Google and Wiley & Sons did not announce financial terms for the Frommer's deal, which is expected to close shortly.
Frommer's to be purchased by Google
A Google spokeswoman said the company would integrate the Frommer's content with Zagat over time, but that it would initially offer the reviews of hotels, restaurants and sights across the world on the Web under the Frommer's brand name. The spokeswoman said there was nothing to announce regarding whether Google would continue to publish the print guidebooks.
Shares of Google, which also announced plans to layoff 20 percent of the recently acquired Motorola Mobility business on Monday, were up 1.9 percent to $654.33 in midday trading. Wiley and Sons shares were off 14 cents, less than one percent, at $47.45.
Shares of Yelp Inc
Google, the world's No.1 Internet search engine, has been adding its own reviews and other types of content to the results that users find on its website. Adding content about restaurants and other small business in different cities could help Google's efforts to attract more advertising dollars from local businesses, analysts say.
“The Frommer's team and the quality and scope of their content will be a great addition to the Zagat team. We can't wait to start working with them on our goal to provide a review for every relevant place in the world,” Google said in a statement.
Publish date: August 14, 2012 10:47 am| Modified date: December 18, 2013 11:41 pm