From Deseret News archives:
Liberty is buying Utah firm
The deal involving Backcountry.com to close in 2nd quarter
Financial terms of the deal were not disclosed, but the companies said the transaction is expected to close in the second quarter.
The companies said the definitive agreement calls for Liberty Media to acquire a controlling stake in Backcountry.com.
Backcountry.com, a member of the Inc. 500, operates e-commerce sites Backcountry.com, BackcountryOutlet.com, TramDock.com, DogFunk.com, SteepandCheap.com and WhiskeyMilitia.com.
Mike Geraci, a spokesman for Backcountry.com, said little will change with the company.
"Everything is going to stay the same with management and the structure," Geraci said. "Everybody's staying on board. They're not moving. They're staying in Park City and Salt Lake City, so there's not much that's going to change."
"I think Backcountry had several suitors, and one of the reasons they went with Liberty is their hands-off philosophy toward the people they acquire," Geraci said.
Denver-based Liberty Media Corp. has interests in electronic retailing, media, communications and entertainment businesses. It said its interest in Backcountry.com will be attributed to the Liberty Interactive group, a part of the company that also has interests in QVC, Provide Commerce, IAC/InterActiveCorp and Expedia. The Liberty Capital group has interests in Starz Entertainment, News Corp. and Time Warner.
A Backcountry.com official in January said the company, armed with a $1.37 million tax-rebate incentive from the state, planned to spend more than $4.8 million to increase operations in Park City and West Valley City and add about 1,250 new jobs. In documents filed with the state, the company said it was expecting sales to grow nearly 500 percent over the next five years.
Geraci said he believed the Liberty acquisition would have no effect on those expansion plans. "They're being left alone," he said of Backcountry.com. "Liberty really likes where Backcountry is going, and they're pretty psyched to help them get there."
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