Mr. Six has another reason to dance. Six Flags and Cedar Fair announced that a merger valued at approximately $8 billion was completed on Monday, July 1st. The combined company, Six Flags Entertainment Corporation, is North America’s largest regional amusement-resort operator with 27 amusementparks, 15 water parks and nine resort properties across 17 states in theU.S., Canada and Mexico, including Six Flags Magic Mountain and Knott’s Berry Farm in California and Cedar Point in Ohio.
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Six Flags Entertainment Corporation also stated that each park in thecombined company’s portfolio will “retain theirlegacybranding withno changes to park names currently being plannedorcontemplated.” That includes the Buena Park-based Knott’s, which has been in operation since 1920.
“Today marks a significant milestone for our company, shareholders,guests and associates, unlocking higher value and greater opportunitiesto deliver engaging entertainment experiences,” said Richard Zimmerman,president and chief executive officer of Six Flags EntertainmentCorporation. “Our merger establishes a new Six Flags EntertainmentCorporation with a highly diversified footprint and robust operatingmodel, enhancing park offerings and performance though the complementaryportfolio of attractive assets and intellectual property from each ofCedar Fair and the former Six Flags. The combination also enhances thefinancial profile of the company with strong cash flow generation toaccelerate investments in our parks to delight our guests, drivingincreased levels of demand and in-park value and spending.”
With the merger complete, the former Cedar Fair (NYSE: FUN) and Six Flags Entertainment Corp. (NYSE: SIX) will start trading on the NYSE under the ticker symbol “FUN” beginning Tuesday, July 2nd. The merger agreement, which was first announced in November 2023, would see the two companies combine to form “a leading amusement park operator in the highly competitive leisurespace with an expanded and diversified footprint, a more robustoperating model and a strong revenue and cash flow generation profile.”
“We believe that by combining the best ideas and most successfulentertainment practices of both Six Flags and Cedar Fair, the new SixFlags can deliver a superior level of joy and excitement that has yet tobe experienced by regional park guests,” added Selim Bassoul,executivechairman of the board of directors of Six Flags EntertainmentCorporation. “We are excited to unite the Cedar Fair and Six Flagsteamsto capitalize on the tremendous growth opportunities andoperationalefficiencies of our more extensive entertainmentportfolio.”
According to a press release, the combined company will use its previously-acquired IPs to “develop engaging new attractions enabled by compelling characters,environments, and storytelling.” Six Flags has long had the rights to Warner Bros. Discovery properties like Looney Tunes and DC Comics with themed areas and popular attractions inspired by such characters as Bugs Bunny and Batman, while Cedar Fair has utilized the Peanuts characters for its Camp Snoopy and Planet Snoopy lands.
