Posted Monday, May 22, 2006 9:18 AM | Contributed by Jeff
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.
I personally do not care if CF retains the Paramount, Paramount Film licensing.
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.
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.
Coasterphan, I live in DC. I have seen many comercials for BGE, PKD, SFA and a few for Hershey (started very recently.) Not once have I seen a Dorney ad, nor would I consider driving further then any of those parks to visit Dorney. DC is a new market for CF.
Well, there goes The Beast. Let's petition to just go ahead and bulldoze it. Cedar Fair will ruin it, if their past and current coaster maintenance is any indication. *** This post was edited by coasterkitty 5/22/2006 2:37:15 PM ***
Would I rather have a housing development buy it? If Knott's Berry Farm is any indication, THEN YES I WOULD!!! What's the difference? Housing developements, projects, and Cedar Fair parks are all concrete and steel. The people maintaining The Beast aren't going anywhere? Gee, that's the same thing they said about Knott's when they bought it. They changed them very quickly. They will most likely replace the maintenance team with one of their own. And please, Dear God, don't get me started on Cedar Fair's maintenance team this week.*** This post was edited by coasterkitty 5/22/2006 3:10:03 PM ***