The Canon City Daily Record reports Greg Tabuteau and his wife, Judy, sold the railway, a frontier town and 806 acres of nearby property to billionaire William Koch in September 2010. At that point, Tabuteau leased the land and train for two years.

He says a significant decrease in state tourism dollars, shorter tourist seasons and the lack of a local winter business played into his decision to sell.

Tabuteau says he's not sure what Koch's plans are for the narrow-gauge train, but it likely will be dismantled and moved or sold.

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