Cedar Fair to be Sold???

[sir clinksalot]

Reports are coming out that Cedar Fair is reportedly being sold for $700 million to Apollo Management.

This includes 11 Theme Parks including Knott's, Cedar Point, Dorney Park and King's Island.

Still trying to figure out of this is a good or bad thing. I wouldn't be surprised to see individual parks sold off to be honest.

It's Official!!!

Press Releases :: Cedar Fair Entertainment Company

CEDAR FAIR UNITHOLDERS TO RECEIVE $11.50 PER UNIT

Cedar Fair sale in works

The Wall Street Journal is reporting that Apollo Management LP is expected to acquire Cedar Fair for about $700 million.
The deal would also include the assumption of $1.6 billion of debt, said people familiar with the matter.
Based in Sandusky, Cedar Fair owns 11 theme parks in the United States and Canada, including Cedar Point and Kings Island.

More at the link ...

[stitchon]

Re: Cedar Fair to be Sold???

That's a STEAL for 1.6 billion in debt and 700 million cash... but that definitely worries me for Great America's future. I'm betting they'll just outright sell the park to the 49ers if this deal goes through.

[Radiobarry]

Re: Cedar Fair to be Sold???

I know it's been years since the Knott family has been involved in the ownership of the Buena Park property, but I would wonder if there's anyone left in the extended family even that could put together a group of investors if the CF's parks are sold off, piece by piece.

I am assuming that Knott's is profitable enough that whoever takes over will be continuing theme park operations there.

[Cellar_Sparkles]

Re: Cedar Fair to be Sold???

I am going to say a good thing because I really do not think Cedar Fair REALLY did anything good for the park (whether or not this is because the park can do well in this economy or not). The reason I find this a good thing is because of Cedar Fair trying to change what knotts has spent years to become. There have been alot of recent disscusions from Cedar Fair saying they were tearing the park apart and trying to make everything like a "typical" theme park with NO themeing and straight roller coasters. Also the big rumors of Cedar fair claiming to be tearing out The Mystery lodge, bigfoot rapids (for room for another roller coaster), and the bird cage theater, not to mention some other buildings in ghost town that were also brought down FROM the actual Calico ghost town. No whether or not this is true, at least there isnt the possibility of this happening from Cedar Fair anyways. Not to mention all the problems, rumors and bashing on Cedar Fair with all the halloween haunt issues (that a completely other tangent conversation). So hopefully there will be some good done to knotts, because they need it. I also agree completely with Radiobarry in some one the Knotts family should bring it back up.