It's official. After months of speculation it has finally been announced that the company that owns Squaw Valley, KSL Capitol Partners LLC, has bought Alpine Meadows.

JMA Ventures, which previously owned Alpine Meadows still has an ownership stake it in too. JMA will continue to own and operate Homewood Mountain Resort. The best part about this deal is if you own either a Gold, Silver or Bronze pass at Squaw, or an Unfiltered, Slightly Filtered or Filtered pass at Alpine, it will become valid for skiing and riding at both resorts. They will also be selling passes for both resorts starting at $439 for adults.

Between the two resorts, riders will be able to access over 6,000 acres of skiable terrain across eight Sierra Nevada mountain peaks. The two mountains will keep their identities, and skiing from mountain to mountain will still not be permitted, because the middle ridgeline is owned separately. There will be shuttles running between the two resorts throughout the day.

Squaw Valley was bought by KSL less than a year ago. KSL set in place a five-year investment plan that included over $50 million in upgrades, such as recreation facilities, chairlift upgrades, restaurants and bars. The merger will offer skiers and riders even more amenities with access to both resorts. Squaw is known for their big village and incredible skiing, where as Alpine is known for being more laid back (without a village at the bottom) and having equally incredible terrain. It will be interesting to see what KSL will do with Alpine in the future.

The first combined season pass is being auctioned off on eBay now through October 4th with proceeds benefitting the Human Society of Truckee Tahoe. Visit the auction here.