PlanetOut Sells Packaged Tour Property RSVP Vacations; Hoping For A Turnaround

As it continues to work on reducing its financial difficulties, the gay and lesbian media portal PlanetOut (NSDQ: LGBT) has agreed to sell off its packaged tour unit RSVP Vacations to gay travel company Atlantis Events. Financial terms were not disclosed. PlanetOut bought RSVP in early 2006 for about $10 million.

The move is part of the San Francisco company’s strategy to avoid bankruptcy and reduce its debts by casting off properties that are tangential to PlanetOut’s intention to simplify and streamline its business model as an ad-supported media company. In addition to the travel companies and e-commerce sites, PlanetOut also operates magazines and websites, all geared to the gay and lesbian community. Release

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