PlanetOut Inc. Sells RSVP Vacations
11 Octubre 2007 - 3:30PM
PR Newswire (US)
Sale will strengthen PlanetOut balance sheet and enable company to
focus on core media properties SAN FRANCISCO, Oct. 11
/PRNewswire-FirstCall/ -- PlanetOut Inc. (NASDAQ:LGBTD), the
leading media and entertainment company exclusively focused on the
gay and lesbian market, today announced that it has entered into a
definitive agreement with Atlantis Events, Inc. for Atlantis to
acquire RSVP Vacations. The transaction is subject to customary
closing conditions and is expected to close on or about October 24,
2007. The sale will not affect RSVP's scheduled itinerary, nor will
it affect current passenger bookings. "We are extremely pleased
that RSVP will become part of the Atlantis family," said Karen
Magee, chief executive officer, PlanetOut Inc. "Atlantis plans to
preserve RSVP's distinct brand, enabling Atlantis to expand the
audience it serves by taking advantage of RSVP's unique positioning
within the LGBT community. We believe this combination also will be
a real positive for RSVP's customers and business partners. It
really is a perfect match and we're looking forward to expanding
and extending our marketing relationship with Atlantis." "From a
corporate perspective, we believe this transaction demonstrates to
our shareholders that we are continuing to deliver on our
commitment to leverage our strengths by simplifying our business
model and emphasizing our core competencies," added Magee. "We are
focused on ensuring that we are in the best position to realize our
full potential as the leading media and entertainment company
exclusively serving the LGBT market, while also strengthening our
balance sheet." Magee also pointed out that the sale of RSVP
reflects PlanetOut's strategy of shifting its business to a model
which has advertising revenue at its core, and draws strength from
the company's powerful, iconic media brands. "We're thrilled to
bring Atlantis and RSVP together into the same family for the first
time," said Rich Campbell, chief executive officer of Atlantis.
"The two companies are stronger together than they are apart, and
taken together demonstrate the strength and vitality of the gay
travel market." About PlanetOut Inc. PlanetOut Inc. is the leading
global media and entertainment company exclusively serving the
lesbian, gay, bisexual and transgender (LGBT) community.
PlanetOut's digital media brands include Gay.com, PlanetOut.com,
Advocate.com, Out.com, OutTraveler.com and HIVPlusMag.com.
PlanetOut print media brands include The Advocate, Out, The Out
Traveler and HIVPlus, as well as SpecPub, Inc. titles. Transaction
services brands include e-commerce Web sites Kleptomaniac.com and
BuyGay.com, and book publisher Alyson Publications. PlanetOut,
based in San Francisco with additional offices in New York and Los
Angeles, offers Global 1000 and local advertisers access to what it
believes to be the most extensive multi-channel, multi-platform
network of gay and lesbian people in the world. For more
information, please visit http://www.planetoutinc.com/.
Forward-Looking Statements In addition to the historical
information contained herein, this press release contains
forward-looking statements, including statements regarding
PlanetOut's potential, strategic positioning and marketing
relationship with Atlantis, as well as statements containing the
words "believes," "anticipates," "expects," and similar words. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the company to differ materially
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include,
among others, the company's limited operating history and
variability of operating results; competition; timing of product
launches; success of its marketing efforts; and the company's
dependence on technology infrastructure and the Internet.
Additional information concerning factors that could affect
PlanetOut's future business and financial results is included in
the company's Annual Report on Form 10-K for the year ended
December 31, 2006 and other public filings filed from time to time
with the Securities and Exchange Commission (SEC), which are
available at the SEC's website at http://www.sec.gov/. DATASOURCE:
PlanetOut Inc. CONTACT: Kevin Nyland of PlanetOut Inc.,
+1-415-834-6389, Web site: http://www.planetoutinc.com/
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