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Paramount Parks

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In the recent issue of ACE News, there was an article about Paramount looking to sell its chain of amusement parks. I received this in the email this morning.


In case you haven't heard the news: Cedar Fair LP, the company which owns and operates seven amusement parks and five water parks (including Cedar Point), has acquired Paramount Parks, the company which owns Kings Island. The deal was announced this morning. Cedar Fair's purchase price of Paramount Parks is $1.24 billion cash.

In 2005, Paramount Parks reported revenues of approximately $423 million while entertaining 12.2 million guests. Cedar Fair reported $529 million in revenues, and 12.7 million guests.

The transaction is subject to certain conditions, including regulatory approval and other terms and conditions customary for transactions of this type, and is expected to close during the third quarter of this year.

Once the transaction closes, Kings Island, Kings Dominion, Canada's Wonderland, Carowinds and Great America (California) would be a part of the Cedar Fair family of parks. Cedar Fair currently owns and operates Cedar Point, Geauga Lake, Michigan's Adventure, Dorney Park & Wildwater Kingdom, Valleyfair, Worlds Of Fun/Oceans Of Fun, and Knott's Berry Farm.

Kings Island will also be the host park for ACE's 2007 Coaster Con. More news as it happens...

This will give Cedar Fair 3 parks in Ohio. In recent years, they bought Geauga Park from Six Flaggs.

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