Gay Cruise Line Sold - 6.5M

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TOPICS: Gay and lesbian tourism. Gay travel in US. US gay market. Gay and lesbian market. Lesbian and gay travel marketing in the US. Lesbian and gay market tourism issues. Gay tourism market strategy in the US. Gay tourism is a global business.

PlanetOut buys RSVP gay travel market cruise company for $6.5M.

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Gay travel company RSVP has been bought for USD$6.5M. PlanetOut bought gay and lesbian travel marketing company RSVP Productions Inc. for $6.5 million in cash.

Source: hotelmarketing.com

San Francisco-based PlanetOut operates several web sites and publishes magazines aimed at the gay, lesbian, bisexual and transgender communities. It runs web sites gay.com and planetout.com, making some of its money from advertising but much from travel services, personals ads and chat sites.

RSVP is based in Minneapolis and has 12 employees. In 2004, it reported $7.2 million in revenue.

PlanetOut will pay $3 million more if the company reaches certain financial targets in 2007 and 2008. It will also extend a bridge loan worth up to $1.4 million to RSVP, which will be repaid when the deal closes.

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