Kennywood Entertainment owners divided on sale

Posted | Contributed by Lord Gonchar

The sale of Kennywood Park is proving not to be as smooth a ride as management had bargained for. The deal to sell the storied amusement park and four sister venues to Parques Reunidos of Spain awaits approval from the Kennywood founders' dozens of heirs. But many, including an owner who sits on the board of directors, are not ready to punch that ticket.

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Two hundred million divided by seventy-six is not all that much when you consider what the net would be after the IRS and the respective states get thourgh with takeing their share. I can see why they are having serious second thoughts.

$200million divided by 76 is $2,631,578.95.

Let's say the taxes were 90%, which would leave $263,157.89. I'd still be happy with that.

The rumor is that they have still not persuaded enough of the owners to sell.

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