PlanetOut, a San Francisco-based media and
entertainment company that serves the gay, lesbian, bisexual and
transsexual communities, completed its purchase of RSVP
Productions, a gay and lesbian cruise and tour company.
The purchase
price was $6.5 million in cash plus up to $3 million more if
certain financial performance targets are met.
RSVP has taken
80,000 passengers on its travel programs since its founding in
1985. The company reported $7.2 million in revenue in 2004 and $8.3
million for the first nine months of 2005.
PlanetOuts brands
include Gay.com,
PlanetOut.com, OutandAbout Travel, The Out Traveler,
Alyson Publications and Triangle Marketing Services.
According to
James David, PlanetOuts public relations manager, PlanetOut intends
to find synergies between RSVPs travel operations and its various
print and Web publications and e-commerce operations.
To contact
the reporter who wrote this article, send e-mail to David Cogswell
at [email protected].