TOP NEWS Sells, Reports Results

Salt Lake City, Utah-based announced today that it has sold its subsidiary to Castles Travel, in a $17.0M deal. OTravel provides on-line travel and vacation packages, primarily for ski packages in the U.S. and Canada. According to Overstock, the deal included a cash payment of $11.0M. OTravel was formerly known as Ski West. Castles Travel is owned by private equity firm Kinderhook Industries. Separately, reported its quarterly results, saying this morning that it had revenues of $157.9M in the quarter ending March 31, down 11% year to year, and a net loss of $21.4M for the quarter.