Worlds of Fun owner, Six Flags to merge into ‘largest amusement park operator’ in US
November 4, 2023 | Josh Boose
Editor’s note: The following story was previously published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter.
Cedar Fair — the parent company of Worlds of Fun in Kansas City — and Six Flags plan a merger that will unite 27 amusement parks and 15 water parks across the United States
Worlds of Fun and Cedar Point’s parent company, Cedar Fair Entertainment, is merging with another major amusement park operator, Six Flags.
The announcement was made Thursday morning by executives from both organizations. It would make the combined company the largest regional amusement park operator in the country, valued at $8 billion, with 27 amusement parks and 15 water parks, according to statistics provided by Cedar Fair.
“Inside our parks, we expect to leverage the capabilities of both companies to create a more engaging and immersive experience so that guests choose us from amid the wide array of options they have to spend their leisure time and leisure money,” said Cedar Fair Chief Executive Officer and President Richard Zimmerman in a public conference call Thursday morning. Zimmerman will lead the new combined company.
Worlds of Fun, December 2021; photo by Drew Hastings
Cedar Fair laid out the financials for investors and the media in Thursday’s conference call, estimating the merger would generate $120 million in cost savings within two years and $826 million in free cash flow. The merger expects to create $3.4 billion in revenue.
The combining of the two organizations was done with a focus on the customers, according to Six Flags CEO Selim Bassoul, who will become executive chairman of the new company’s combined board of directors.
“This transaction is all about our guests,” Bassoul told those listening-in on Thursday’s conference call, where the merger was detailed. “The value it will create, for them, the additional perks we will provide and the additional thrills we will create.”
Specifics on any new “perks” or “thrills” are unclear. The potential for a season pass sharing system was mentioned in the call. Charlie Brown and Snoopy may have some new friends to join them too. In a handout about the merger, live entertainment was a focus: “Capitalizing on entertainment partnerships and a portfolio of beloved IP [Intellectual Property] such as Looney Tunes, DC Comics and PEANUTS to develop engaging new attractions.”
Click here to see more of Cedar Fair’s properties.
Zimmerman doesn’t anticipate re-branding of the individual parks, including Cedar Point, but said the company will consider changes and upgrades at all locations.
“I think there’s opportunity on both sides to continue to improve our sites, improve our parks, listen to our guests and what they value,” Zimmerman replied when asked about park changes.
Cedar Fair is currently based in Sandusky, Ohio, but in a statement, Cedar Fair said a new, merged corporate office will move to North Carolina with “significant finance and administrative operations in Sandusky.” The board of directors will be made up of six executives from Cedar Fair and six from Six Flags.
In a joint statement, Cedar Fair and Six Flags announced, “the combined company will operate under the name Six Flags and trade under the ticker symbol FUN on the NYSE and will be structured as a C Corporation.”
The merger must be approved by the Federal Trade Commission. Zimmerman expects the deal to close in the first part of 2024.
Cedar Point has been a staple along Lake Erie in Northern Ohio since 1870. There were previous discussions of a sale or merger, the latest occurring in 2022.
Worlds of Fun celebrated its 50th anniversary in Kansas City this year. The park was originally co-created by Kansas City Chiefs founder Lamar Hunt, and acquired by Cedar Fair in 1995.
Copyright 2023 WKSU, Ideastream Public Media.
2023 Startups to Watch
stats here
Related Posts on Startland News
Deep Rooted plants new store at busy Troost shopping hub; Here’s how the streetwear brand is growing
A Kansas City streetwear brand is extending its roots on the city’s east side, said owner Donnell Jamison. Deep Rooted — which Jamison launched in 2018 out of the trunk of his car — has a new home in the shopping center at Troost Avenue and Emanuel Cleaver Boulevard. “We just want to be that…
‘More than a thrift store’: Goodwill’s efforts to close digital divide sell an expanded mission — upskilling workers
Editor’s note: The following is the first in a series of stories focused on digital inclusion efforts in Kansas City, and is presented by Google Fiber. Ron Carr’s retirement made him restless, he shared. Wanting to be a valuable player in Kansas City’s economy once again, Carr enrolled in Goodwill’s Digital Skills Training program. “With…
Thrive Homes builds ‘life-changing’ independence for those struggling with mobility, aging in place
The impact of Thrive Homes is as simple as it is profound, said Christian Hill, whose startup taps into state and federal health funds to provide timely home modifications for residents with disabilities and accessibility issues. The Overland Park-based company makes it possible for people with certain health conditions — and those who are experiencing…
She started by getting Black art into Black spaces; now Natasha Ria El-Scari wants all of KC to know what they’ve been missing
A Renaissance woman, Natasha Ria El-Scari — gallerist, curator, poet, spoken word performer, educator, and life coach — has surrounded herself with art throughout her life. However, as the Kansas City native watched her hometown’s art scene flourish and thrive, she noticed not everyone was included. “As the city started to change, and the Crossroads…