Hedge Fund Owner Buys Taos Ski Valley-
One of New Mexico's top ski areas has been sold.
Taos Ski Valley officials announced Wednesday that wealthy conservationist and hedge fund owner Louis Bacon has agreed to buy the ski area. The sale price wasn't disclosed.
Taos Ski Valley CEO Mickey Blake says the ski area needs improvement, but the company doesn't have enough money for renovation.
Bacon has enough capital to buy new lifts, rebuild the base area and construct a hotel.