Cedar Fair purchases Paramount Parks
Written by Chris P.
Cedar Fair, which owns and operates seven amusement parks and five water parks, including flagship Cedar Point, will acquire the Paramount Parks chain from CBS for $1.24 billion in cash.Tweet
Paramount's parks are Canada's Wonderland, near Toronto, Canada, Kings Island, near Cincinnati, Kings Dominion, near Richmond, Va., Carowinds near Charlotte, N.C., and Great America in Santa Clara, Cal. The Paramount Parks generated revenues of approximately $423 million and had aproximately 12.2 million guests in 2005. Combined, the two park chains generated approximately $1 billion in revenues and had approximately 25 million guests in 2005.
See Cedar Fair's press release for more.
Could this be a good or bad thing? You decide.
[Editor's note: The *huge* question: Snoopy or Nickelodeon? Or, somehow, both?
Cedar Fair's kids' lands are themed to the "Peanuts" franchise while Paramount's are themed to CBS's Nickelodeon. CBS also licenses the Nick characters to the Universal theme parks, which do not compete geographically with the Paramount Parks. But Cedar Fair's Knott's Berry Farm is in the SoCal market with Universal Studios Hollywood, so a conflict would emerge if the entire Cedar Fair chain picked up the Nick license.]
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