Winter News

MAGIC MOUNTAIN SELLS OUT OWNERSHIP SHARES

by Craig Altschul

Londonderry’s Magic Mountain recently “sold” its 333th share. That was the, well, “magic number” needed to begin the skier-based ownership entity. The Magic Partnership LLC shares were sold for $3,000 each, raising just under $1 million. Most of the capital will be used to improve snowmaking capacity. The remaining 33 shares were bought since the new year began. Three hundred shares was the legal requirement to access any of the capital. The new entity will be a cooperative partnership between the current operator and owners and the new skier-community based shareholders. This winter marks 50 years of peak to bottom skiing at Magic dating from 1962.

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Craig Altschul

About Craig Altschul

Craig Altschul is Editorial Director of SnoCountry.com. He is a veteran snow journalist, having covered the sport for more than 40 years. His syndicated snow sports humor column, Ski Tips, ran in newspapers across the country for 20 years. He was Global Editor-in-Chief for OnTheSnow for 12 years and has written for a variety of magazines and newspapers. Altschul is past president of both the Eastern Ski Writers Association and the North American Snow Journalists Association.

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