IE Business Daily Business news for the Inland Empire.
Big Bear Mountain Resorts has agreed to be bought by the operators of Mammoth Mountain Ski Resort.
The resort in the San Bernardino Mountains covers nearly 140 acres of private property and another 438 acres operated by the U.S. Forest Service, according to multiple reports.
Mammoth Mountain will pay $38 million for the property, which includes parking lots, a golf course and practice tee. Bear Mountain and Snow Summit are also part of Big Bear Mountain Resorts.
Big Bear Mountain Resorts has been on the market for about two years, and the sale is expected to be completed before the upcoming ski season begins.
The transaction must be approved a majority of nearly 700 shareholders, and the new owners must get a permit from the forest service to use the department’s land for skiing, according to reports.
