Resort Sports Network, RSN, will be sold to private investors with extensive expertise in the media and resort industries. The sale is subject to FCC approval of the transfer of RSN's broadcast licenses, expected in early 2007.
The investor group believes the RSN brand and its resort based television network represent a unique opportunity for marketers trying to cut through the clutter of today's advertising environment. Research has shown that RSN is able to reach an affluent, active audience when that audience is on vacation – in a more relaxed and receptive state of mind.
“We are big believers in the marketing power of resort based media,” said Mark Burchill, who heads the investor group. “We intend to build upon RSN's leadership position in resort media and grow all aspects of the business. We plan to add key resources including capital investment, media expertise and resort industry experience. Our ownership will be hands on and passionate, we live and work in resort communities. ”
After the closing of the sale, RSN will implement a new strategic plan to expand into additional markets and offer more resort based marketing opportunities to advertisers.
“The company is very excited about the sale,” said Jeff Dumais, RSN's president. “The new owners have a promising vision for RSN and the necessary resources and expertise to achieve that vision.”
The investor group consists of private investors with extensive media, resort and acquisition expertise. Some of the key individuals are Mark A. Burchill, a cofounder of 24/7 Media (Nasdaq: TFSM) an Internet advertising
company; John Cumming, CEO of Powdr Corp. which owns ski resorts including Park City Resort, Alpine Meadows, Mt. Bachelor, Las Vegas Ski & Snowboard Resort and a founding partner of Mountain Hardware; Len Conway, a former
equity partner in Telluride Ski and Golf Corp.; and John Cooney, an owner of EUE Screen Gems, Ltd., one of the largest film production companies in the US.
