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UPDATED: Wait, What?

It seems a pertinent detail of the Snowbird sale that has been making national headlines today got lost in translation. In a release just issued by Snowbird's publicist, it's clarified that PCMR did not buy the ski resort; rather, the Bass and Cumming families have entered into a "partnership for the future operation and development of Snowbird Ski and Summer Resort." Powdr Corp. is not involved in the sale or purchase. Snowbird's current management team, led by Bob Bonar, Tom Jones and Jerry Giles, will remain in place. Mr. Cumming will own a majority share of Snowbird. Dick Bass will remain as Chairman of the Board. Original information after the jump.

In a bizarre twist to the ongoing Park City Mountain Resort saga comes news that Ian Cumming, whose family owns the resort, has purchased majority interest of Snowbird for an "undisclosed amount. According to Unofficial Networks, Snowbird co-founder Richard "Dick" Bass said in a joint statement with Cummings, "This partnership will enable Snowbird to achieve more rapid growth." The ultimate goal, said Bass, is to make Snowbird more of a year-round destination that will include additional biking trails, renovations to the Snowbird Center and Cliff Lodge, and a new on-mountain dining facility.

The sale conceptually makes sense, since the Cumming family owns Powdr Corp., one of North America's largest ski resort operators. What's baffling is that PCMR has been embroiled in a heated lawsuit against Talisker Corp. and Vail Resorts.

As reported by The Salt Lake Tribune, "Last May, Talisker Corp. brought in Vail Resorts to run Canyons Resort outside of Park City, and to take over the lead in a high-profile lawsuit against PCMR's parent company, Powdr Corp., that could result in PCMR losing access to most of its mountainside."

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