Posted
Cedar Fair, L.P. (NYSE: FUN), a publicly traded partnership which owns and operates six amusement parks and five water parks, today announced that it has reached agreement in principle for the acquisition of Six Flags Worlds of Adventure, located near Cleveland, Ohio, from Six Flags, Inc. The transaction, which is valued at $145 million, involves the purchase of substantially all of the assets of the park, including the adjacent hotel and campground. Six Flags will retain ownership of all animals currently located at the park. The cash purchase is subject to a number of conditions, including the negotiation of a definitive purchase agreement, and is expected to close before the beginning of the 2004 season. Further details were not disclosed. The park will be renamed Geauga Lake.
Read the official press release from Cedar Fair.
Also... does this mean that Cedar Fair will take the park over & run it, or will it be eventually selling or moving all its assets over to its other properties? If they keep it around, it looks like Cedar Fair will have a Bermuda Triangle of parks near one another, the others being Michigan's Adventure and.. of course... Cedar Point.
...I wonder what will happen with the Loony Tunes area, the Batman/Superman coasters & the Batman stunt show...
...will they retain for '04 & make the changes for '05, or will they work diligantly to re-brand this park this year & give it the ol' Geauga Lake feel again, that the people once knew & loved?
I hope Cedar Fair buys Six Flags Darien Lake ... Something needs to be done with Darien Lake its getting worse every year!
Well, firstly, Six Flags needs to put Darien Lake up for sale, buddy. Then contenders for purchase can come to the table.
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