Virgin Venture: Branson’s Airline Is Sold

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SAN FRANCISCO, CA--We've seen a lot of airline shuffling over the past few years.

American merging with US Airways, Southwest buying Airtran, United and Continental.

This time, it's a couple of smaller airlines joining forces. Virgin America's changing hands. So who's buying Richard Branson's baby?

None other than Alaska Air. The airline is paying $2.6 billion to take over Virgin.

Remember how excited Branson was when he visited Dallas back in 2014, even writing love letters about expanding to Love Field?

So why would he want to sell?

He didn't.

Turns out folks at a hedge fund own more of the airline than Branson does. So when they got their sights set on a sellout, he couldn't stop them.

There's a little less competition in the airline world, but we'll still see both Alaska and Virgin America brands in the sky, at least for now.

Let's just hope they keep those nice, roomy seats.