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Cedar Fair

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business2 years ago

"North America's Theme Park Landscape Transformed as Cedar Fair and Six Flags Merge"

Cedar Fair and Six Flags, two major amusement park operators, are merging to create a powerhouse company with a combined worth of over $3.5 billion. The merger will result in a company with 27 amusement parks, 15 water parks, and nine resort properties across the United States, Canada, and Mexico. The deal is expected to lower costs and increase efficiency in the face of ongoing challenges in the amusement park industry due to the pandemic. The combined company will have entertainment partnerships and a portfolio of intellectual property, including popular brands like Looney Tunes, DC Comics, and Peanuts. The merger is set to close in the first half of next year, pending approval from Six Flags shareholders.

via WLOS|
#amusement-parks#business#cedar-fair
business2 years ago

Major Theme Park Companies Cedar Fair and Six Flags Announce Merger, Bringing Exciting Changes to the Industry

Cedar Fair and Six Flags, two major amusement park operators, are merging to create a powerhouse company with 27 amusement parks, 15 water parks, and nine resort properties across the U.S., Canada, and Mexico. The merger, valued at over $3.5 billion, aims to lower costs and enhance park offerings. Despite an increase in revenue, amusement parks have struggled with attendance during the pandemic. The combined company expects $120 million in cost savings and plans to moderate seasonal volatility. The deal is set to close in the first half of next year, pending approval from Six Flags shareholders.

via NPR|
#amusement-parks#business#cedar-fair
business2 years ago

Major Theme Park Merger Brings New Headquarters to Charlotte

Cedar Fair, the parent company of Carowinds, and Six Flags Entertainment Corporation have announced a merger, creating a combined company with a portfolio of 42 parks and nine resort properties across North America. The merger aims to enhance park offerings and performance, with the company operating under the name Six Flags and headquartered in Charlotte. The merger is expected to be completed in the first half of 2024.

via WSOC Charlotte|
#amusement-parks#business#cedar-fair
business2 years ago

Amusement Park Giants Six Flags and Cedar Fair Announce Merger

Amusement park corporation Six Flags is merging with rival Cedar Fair in an $8 billion deal, creating a combined entity that will operate 27 amusement parks, 15 water parks, and nine resort properties in North America. The merger is expected to generate over $3 billion in revenue. The move comes after years of financial challenges for Six Flags, including a plunge in share value in 2020 due to defaulted payments for planned projects in China.

via The New York Times|
#amusement-parks#business#cedar-fair
business2 years ago

Major U.S. amusement park operators Cedar Fair and Six Flags announce merger

Cedar Fair and Six Flags, two major amusement park operators, are merging to create a combined company worth over $3.5 billion. The merger will result in a portfolio of 27 amusement parks, 15 water parks, and nine resort properties across the U.S., Canada, and Mexico. The companies anticipate cost savings of $120 million within two years of closing the deal. The merger aims to enhance park offerings and performance, as amusement parks have struggled with attendance since the pandemic. The combined company will be headquartered in Charlotte, North Carolina, and will operate under the name Six Flags. The transaction is expected to close in the first half of next year, pending approval from Six Flags shareholders.

via NBC News|
#amusement-parks#business#cedar-fair
business2 years ago

"US amusement park giants Cedar Fair and Six Flags in talks for potential merger"

U.S. amusement park operator Cedar Fair is reportedly in talks for a potential merger with Six Flags Entertainment. The merger discussions come as both companies face concerns about a U.S. economic slowdown and reduced consumer spending. While the companies have previously discussed a combination in 2019, there is no certainty that an agreement will be reached this time. If a deal is reached, it could be announced as early as Thursday. Cedar Fair and Six Flags have seen their stock prices rise on the news. Cedar Fair owns 11 amusement parks and four water parks in the U.S. and Canada, while Six Flags is the largest operator of water parks in North America.

via Reuters.com|
#amusement-parks#business#cedar-fair
travel-and-leisure2 years ago

Cracked support pillar forces closure of Cedar Fair-owned rollercoaster at Carowinds

Cedar Fair has closed the Fury 325 roller coaster at Carowinds amusement park in North Carolina for repairs after a cracked support pillar was discovered. A video taken by a parkgoer shows the track swaying as a passenger car curves around, causing a portion of the pillar to break off. The ride has been closed for inspection and repairs, with safety being the top priority. Fury 325 is known as the tallest, fastest, and longest giga coaster in North America.

via WJW FOX 8 News Cleveland|
#amusement-park#carowinds#cedar-fair
finance2 years ago

Jim Cramer's Lightning Round: Buy Rio Tinto, Getty, and Hilton; Sell Rivian and Lucid; Choose Alibaba for Chinese stocks.

Jim Cramer recommends buying Rio Tinto due to its well-run operations and safe yield. He is not enthusiastic about Cedar Fair due to its weather-related business, and cannot recommend Blackstone Mortgage due to lack of knowledge about its mortgages. Cramer advises caution with Marvell Technology due to rumors, but likes the stock's performance with Nvidia.

via CNBC|
#blackstone-mortgage#cedar-fair#finance