Cedar Fair to acquire Six Flags Worlds of Adventure
Posted Wednesday, March 10, 2004 1:14 PM | Contributed by beast7369
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.
Ummm... does this mean that my Six Flags season pass will no longer be good at Worlds of Adventure?
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.
...just when I learned how to pronounce Worlds of Adventure without a problem, here they go back & changing the name to the original which I totally cannot pronounce.
...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?
What I wonder is Did they also aquire the rights to the DC Comics and Bugs Bunny names. Otherwise there's going to be some serious renaming going on there. Or maybe we'll get RCT2 versions of the original names Knight Flight(Batman's Knight Flight) Ultimate Escape(Superman Ultimate Escape)
Wahoooooooooo! no more Six Flags. What a great surprise! But my mom brought up something that i never knew. She said that Cedar Point use to own Geauga Lake years and years ago. Cuz when you went through the gates, they gavve you a hand stamp that had CP on it. So who know what will hapeen now, but all i can say is that Cedar Fair buyin it will be for the better of us all.
CP Boy, your mom is almost right. A number of CP officials went off on their own and bought Geauga Lake back in the late 60's. They were the ones who formed Funtime. But they were not connected with CP anymore. In a way though, things have come full circle.
While i am happy with this, i do have some problems with this. I am not sure if i can afford my first trips to sfgam and sfgadv now that i don't have a sfwoa pass anymore. Secondly, with no competition between the two, maybe the rate of coaster productivity and other park improvements will not be so rapid, (especially geuga lake). This is just a theory so please don't rag on me for it. But who am i kidding, great buy for cedar fair, now maybe the x-flight line won't be so slow!