Posted
Cedar Fair, L.P. today announced that it has signed a definitive agreement for the acquisition of the Paramount Parks. Cedar Fair, L.P. will acquire the stock of Paramount Parks, Inc., a wholly owned subsidiary of CBS Corporation for a cash purchase price of $1.24 billion.
Read the press release from Cedar Fair.
I was not any more enticed to attend just because attractions had a movie name or theme, or had Paramount in front of them.
I think that it makes sense to retain the Nick licensing deal because that is such a recognizable and highly marketable entity among kids. The parks, IMO benefit greatly off of family themed attractions based on Nick characters. However rides with an obscure movie title really do little to drive the parks.
One can't help but notice the overwhelming focus that Kinzel is putting on the fact that the Paramount Parks have been very successful family-oriented parks. That tells me that the CF execs recognize that the parks, specifically PKI, have found a niche in concentrating less on huge thrills and more on family themed attractions.
My gut tells me they will change very little initially, and retain the family themed focus for future additions. And no doubt CP will be their anchor thrill park.
Shaggy
CCMR...what is more telling than the quantity of the parks owned is the quality. I think Cedar Fair is really moving in the right direction.
Don't disagree at all, I just thought it was an interesting thing to note. As Six Flags was buying Jazzland, did anyone really think just a couple years down the line they would be so close in the number of parks owned.
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