Cedar Fair to acquire Paramount Parks

Posted | 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.

Read the press release from Cedar Fair.

Wahoo skipper: Here's why your park system does not allow smoking around the places you mentioned. We have similar laws in the Cleveland metro parks system. The playgrounds that have woodchip protection (so kids that fall don't hit concrete) it's little known how flammable that stuff is. Well, it's very flammable.
On to the ballfields. The herbicides they use on the turf can be highly explosive. My neighbor, 'borrowed' some of it from his job in the parks. His yard went up like a torch when his kid tossed a cigarette on it.

I'm all for restricted smoking in amusement parks and I smoke.

No, that isn't why scooter. I implemented the policy. The reason why is because we don't want children to learn bad, unhealthy behavior from adults. It has nothing to do with fire concerns. Heck, one of our playrounds is all sand. Last time I checked sand in put IN ashtrays to put out cigarettes.
1.25 billion was less than I thought they would go for, so consider me pleased and looking at the profits from the combined companies I dont think CF is going to have any problems paying of that debt.

I suspect KI, KD, and Carrowinds to be the less tinkered with but I would imagine Canada and Great America will recieve the Cedar Fair touch the most.

Also Im pretty sure we can kiss the paramount movie tie in good bye, but extending the Nick stuff to the rest of the parks only makes sense, not to mention the Nick fits better with the CP new colours scheme anyway. Also means something might be done to to the once great kids area once knows as Berenstien Bear country now known as Peanuts Playground which loses a picece of its former glory every season.

I just hope Nick Universe will be sucsess and will rub on the those visiting from Sandusky, to allow P&D slightly bigger budgets for kids rides

You are right, Sand's not flammable. One of the burb's of cleveland removed its sandboxs a few years ago because some kid suffocated in one.
Hey, Wahoo, I agree with your reasons. Don't get me wrong. Frankly, with todays sue-happy attitude, I'm surprised there's any playgorunds left. The Drive-ins ditched 'em years ago.
I can't wait till they build TTD2 up, over and back down the Eiffel Tower. :)
Morté615's avatar
^^ You know what, I think that would actually be a pretty cool ride, it would look ugly from the ground, but imagine being up on top of the top hat and looking down at the Eiffel Tower :)
*** This post was edited by Morté615 5/22/2006 6:16:02 PM ***
Shoot me now.. it didn't take him long did it???


"This is huge for the industry and for Cedar Fair in terms of the property being acquired," said Paul Ruben, North American editor of Park World, an amusement industry trade publication. "These are all major North American theme parks."

Wonder if he called them with the quote..

I'd say it's a smart move & unlike SF they'll be able to pay off the debt because they're working with a pretty solid chain of parks to begin with.It's too early to even speculate on cap ex & how CF ownership may effect 07 plans.

I'd expect things for 07 to be much like what SF did for 06.Despite the ownership change any cap ex spending that has already been budgeted for new rides will move forward as if the change in ownership never took place...this season will also give them a chance to evaluate the parks on an individual basis so as to better plan for the improvements & services that each individual park can benefit most from.

CF isn't gonna go the SF route of throwing a ton of capital at each park to see what sticks as they are well aware of how SF's overspending put them up to their butts in debt,they'll take their time planning what new rides should be added where...I'm still crossing my fingers for a hyper or floorless to make it's way to KD in the future as that park could certainly benefit from either ride.

This is great news for Cedar Fair...it gives them more of a hold on the amuesment industry which would also improve their company status as a major park holder. It gives Cedar Fair room to show that they have what it takes to be a great company. I see many great improvements in all the parks.
Those in Ohio who are looking for some competition to keep the parks in the state adding new spectacular attractions might want to hope for the success and growth of the non-Cedar Fair parks in surrounding states. Waldameer is about to get started on Ravine Flyer II. KW has an major expansion planned once the new expressway plans are confirmed. Camden Park continues to make a comeback and miget be able to do something more ambitious in the future. Of course, there is also HW and we all know what that park can do, especially with wooden coasters.
I know that cities and states do pass laws limiting smoking in public places, I just personally think they've gone farther than they really have a right to, like making it illegal in bars and restaurants (doesn't mean they don't, I am just thinking their overstepping what they should be allowed to do). On further consideration, I guess limiting it theme parks doesn't really bother me much.
Batwing Fan, you crack me up. You say CF isn't going to fall into the trap of overspending, yet right away you start hoping for hypers and floorlesses at a park near you. lol.*** This post was edited by DWeaver 5/22/2006 7:33:57 PM ***
Morté615's avatar
OK I am posting my opinion of how I feel about all this. And I am going to cross post it wil pointbuzz, of which I am also a member.

Ok my two favorite parks are now owned by the same company, Cedar Point and Kings Island.

How does that make me feel? Well I like how Cedar Fair runs their parks (or at least the ones that I have been too) but CF does not do theming very well (or at all) and Paramount does very good theming.

If CF can keep the theming at the Paramount parks and even move it to some of their other parks then I am all for it. But I don't want to see Kings Island turn into another Cedar Point. I like my theming, and it's nice having a park that is just for the thrills (Cedar Point) but it is also nice to have a park that immerses you in the themes and makes it seem that you are not in the same world anymore (Kings Island).

I know I know wishful thinking but it is nice all the same.
Oh Well, time will tell, but I am still happy :D

And Arthur Bahl don't expect Camden Park to get any large coasters any time soon. Yes they are doing LOTS better but they are still a small park in an area that really can't support them if they get much bigger.

As a (hopefully) soon to be resident of Toledo (if I get off of MUO's waitlist) Im excited that one SP is going to get me into every major park in driving distance from me, but I do hope CF doesnt touch the Beast, weither it be by cheapening the maintance or by building any rides back there the require removal of the tree cover and destroying the illusion of the Beast being a ride through the middle of no where.
If Cedar Fair lets some of Parmaount Parks join their exec commity or at least add some of them into the hierarchy of Cedar Fair (which I am sure they will), then Cedar Fair will have a mixture of CP and PP. CF = thrill rides CF = hotel PP = good theming and PP = family rides

If they can combine all these good qualities then CF will benifit greatly from aquisition. I would like to see Cedar Point add some amazing dark rides along with their collection of thriller rides and coasters. I would also like to see PKI add a huge B&M finally.

It will be interesting to see how it works out with the characters too. If CF will keep PP characters and buy the licence to them or will they trash Snoopy? I am sorry I, but I hope they get rid of Snoopy, I never cared for the Snoopy clan they looked like a bunch of dancing stuffed animals that hardly anyone knows about anymore. Nick is more well known.*** This post was edited by Cs6153 5/22/2006 8:31:29 PM ***

I really believe that what Camden Park can and should do is to add some H2O to their park. Waterpark attractions have become important to many of the smaller parks such as Waldameer and Idlewild as well as mid-sized parks like LC, GL, DP, and HW. Camden primarily depends upon its local region that includes parts of 3 states and waterparks generally fit into this pattern. Most importantly, such facilities boost local patronage and repeat visitation.

Another good case for a waterpark at Camden is the climate. Summers in the Huntington area can get quite hot and humid at times.

Morté615's avatar
Yes I agree totally, I lived right outside of Charleston (about an hour away) for most of my life, I actually worked at Camden Park in 2004 (till I moved to Sandusky in 05 to work at Cedar Point).

I agree that a few water attractions would go over great, and of course rebuild the one water attraction that they do have (don't get me started on the log flume, I worked that for 3 months and I know what troubles it has:) )

But they are at least going in the right direction now, upgrading the current rides and giving the entire place a face lift.

I can't wait to see what happens 5 or 10 years down the road!

A waterpark is where a park like Camden could have an impact on the bigger Cedar Fair parks. Most people travel to far-away parks for the coasters and the themed attractions but if they primarily want water, they usually look for a park close to home. If Camden gets some water attractions I could see some people making fewer trips to far away parks with water because they have one nearby. This could have an effect, for example, on GL. which is priced reasonably enough that some visitors might go there just for the water. With gas as dear as it is, some of these visitors might choose to stick with their home park if it provides what they want.

Another park that could gain more local patronage that impacts other parks is Wyandot Lake. This is primarily a waterpark with a few rides but tying it in with the zoo might strenghen its appeal in the Columbus area. What Wyandot could use is either a mid-sized wooden coaster (something Camden already has) or a mouse along with a couple of other thrill rides.

CoastersNSich's avatar
Responding to Lord Gonchar, I'd be surprised if Cedar Fair continued to have designated smoking areas at Kings Island after this year. The rule is hardly enforced, having visited several times already this year.
"At least Ghostrider and Blue Streak remain enjoyable woodies."

I will agree about Blue Streak, but Ghostrider has gotten tremendously rough over the years.

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