six flags cedar fair merger: Six Flags and Knott’s Berry Farm Owner Cedar Fair Merge to Create Giant Theme Park Company

Six Flags and Cedar Fair have completed their $8 billion merger, creating a huge company (six flags cedar fair merger) that owns 27 theme parks, 15 water parks, 9 hotels and resorts, as well as safaris, marinas, and other properties across the U.S., Canada, and Mexico.

“Today is a big day for our company, shareholders, guests, and employees. This merger will help us create more value and offer better entertainment experiences,” said Richard Zimmerman, the president and CEO of Six Flags Entertainment Corporation. Cedar Fair owns places like Knott’s Berry Farm in Anaheim and Cedar Point in Ohio. Six Flags owns parks like Six Flags Over Texas, Six Flags Great Adventure in New Jersey, and Six Flags Magic Mountain in Valencia, California. They announced their plan to merge last year.

The companies said that by merging, they will have more parks in places like Florida, Texas, and California, which can stay open all year, providing stability when their parks in the northeast and midwest close for the winter.

The companies plan to use their popular characters and brands in their parks. Six Flags has a deal with Warner Bros. Discovery for rights to DC Comics and Looney Tunes characters, while Cedar Fair has rights to the Peanuts characters.

The new company will be called Six Flags Entertainment Corporation and will trade under the ticker “FUN” on the New York Stock Exchange. Most of its top executives will be from Cedar Fair, including the new CEO Zimmerman. Selim Bassoul, who was the CEO of Six Flags, will be the executive chairman.

Theme parks have become very popular after COVID, with companies like Disney and NBCUniversal investing billions in expanding their parks. Disney is planning major expansions in California and Florida, as well as adding more cruise ships. Universal is opening a big new park in Orlando next year and a smaller, family-focused park in Texas (near Six Flags’ parks).

The new Six Flags won’t be as big as Disney or Universal parks in Florida or California, but it will have more parks spread across the country, including many far from Disney or Universal properties.

“We believe that by combining the best ideas and entertainment practices of both Six Flags and Cedar Fair, the new Six Flags can offer an unmatched level of joy and excitement for regional park guests,” said Selim Bassoul, executive chairman of Six Flags Entertainment Corporation. “We are excited to bring together the Cedar Fair and Six Flags teams to take advantage of the growth opportunities and efficiencies of our larger entertainment portfolio.”

Zimmerman added, “Our merger creates a new Six Flags Entertainment Corporation with a diverse presence and strong operating model. It enhances our park offerings and performance with the complementary assets and intellectual property from both Cedar Fair and the former Six Flags.”