REFILE-UPDATE 1-Vail Resorts buys portal operator Mountain News

Fri May 28, 2010 5:00pm EDT

(Corrects dateline to May 28 from May 29)

* Terms of the acquisition not disclosed

* Mountain News operates snow sports portal OnTheSnow.com

May 28 (Reuters) - Vail Resorts Inc (MTN.N) acquired privately held Mountain News Corp, which operates the popular snow sports portal OnTheSnow.com.

Mountain News Corp will remain based in Orinda, California, Vail Resorts said in a statement, without disclosing the financial details of the transaction.

Mountain News provides snow reports to more than 1,200 websites through out the world, including about 400 news websites, Vail Resorts said.

It added that according to a Nielsen Audit & Demographic Study, OnTheSnow.com, used by snow sports enthusiasts to research and plan their ski and ride vacations, has more than 2.2 million visits per month during peak periods.

Mountain News' operations will be separate from Vail Resorts' five mountain resorts and lodging and real estate businesses, Vail said.

Shares of Vail Resorts, whose subsidiaries operate the mountain resort properties of Vail, Beaver Creek, Breckenridge in Colorado, closed at $41.61 Friday on the New York Stock Exchange. (Reporting by Vidya Lakshmi in Bangalore; Editing by Unnikrishnan Nair)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.