THEME PARKS COMPLETE $8 BILLION MERGER
Six Flags and Cedar Fair have completed an $8 billion merger, creating a "leading amusement park operator" that will manage more than 51 properties across North America.
The deal between equals with rival operator Cedar Fair, L.P., was finalized after the market closed on Monday, Six Flags Entertainment Corp. said. As of Tuesday, shares of Six Flags Entertainment Corp. will trade on the New York Stock Exchange under the "FUN" ticker symbol.
There are currently no plans in place to change any of the theme park names, with each one retaining their "legacy branding."
"Today marks a significant milestone for our company, shareholders, guests and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences," Richard Zimmerman, president and chief executive officer of Six Flags Entertainment Corp., said in a statement.
"We are excited to unite the Cedar Fair and Six Flags teams to capitalize on the tremendous growth opportunities and operational efficiencies of our more extensive entertainment portfolio," added Selim Bassoul, executive chairman of Six Flags.
"With 27 amusement parks, 15 water parks, and nine resort properties across 17 states in the U.S., Canada, and Mexico, Six Flags Entertainment Corporation is the one of the most prominent regional amusement-resort operators in North America."
Newsweek contacted Six Flags Entertainment Corp. for comment on the deal and future plans.
In March, one person was shot by police outside Six Flags Over Georgia following the outbreak of a brawl on the amusement park's opening day.
A Cobb County Police Department statement provided to Newsweek at the time said that about 500 to 600 people were "running through the park and fighting."
Six Flags Over Georgia said the shooting didn't occur on its premises.
"Just like other venues in the area, we are committed to keeping this type of trouble outside our park and off our property. There was police activity involving gunshots; we want to confirm there was no shooting at our property or parking lot. This took place on South Service Road that is not owned or operated by Six Flags. However, we join our community and the Atlanta region in our commitment to safety and security. We won't put up with that type of activity here," Six Flags Over Georgia said in a statement to Fox 5 Atlanta at the time.
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2024-07-02T11:00:33Z dg43tfdfdgfd
