San Francisco - PlanetOut, a media company focused on the LGBT community, announced that it has entered into an agreement to sell its RSVP Vacations unit to Atlantis Events, a company that offers all-gay cruise, resort and tour packages.

Financial terms of the deal, expected to close in several weeks, were not disclosed.

San Francisco-based PlanetOut, which publishes The Advocate and Out magazines and operates Gay.com, said the move reflects its shift to a business model with advertising revenue at its core.

"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," said PlanetOut CEO Karen 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."

Related Links:
http://tinyurl.com/37bq2w

http://www.atlantisevents.com

http://www.rsvpvacations.com

http://www.planetoutinc.com