The theme park industry has just witnessed a major shakeup as Six Flags and Cedar Fair have successfully completed their $8 billion merger, forming a powerhouse in the live experiences sector. The merger brings together two industry giants, resulting in a combined entity that boasts ownership of 27 theme parks, 15 water parks, 9 hotels and resorts, as well as safaris, marinas, and other properties spread across the United States, Canada, and Mexico.
Richard Zimmerman, the president and chief executive officer of Six Flags Entertainment Corporation, expressed excitement about the merger, stating, ‘Today marks a significant milestone for our company, shareholders, guests, and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences.’
Among the notable properties owned by Cedar Fair are Knott’s Berry Farm in Anaheim and Cedar Point in Ohio, while Six Flags boasts iconic locations such as Six Flags Over Texas, Six Flags Great Adventure in New Jersey, and Six Flags Magic Mountain in Valencia, California.
The strategic merger will see the combined entity operating in key locations like Florida, Texas, and California, allowing for year-round park operations and enhancing stability during seasonal closures in the northeast and midwest.
Furthermore, the newly merged company plans to capitalize on licensed intellectual property within their parks, with Six Flags holding rights to characters from DC Comics and Looney Tunes through a deal with Warner Bros. Discovery, while Cedar Fair controls the rights to the Peanuts universe.
The merged entity will be known as Six Flags Entertainment Corporation and will trade under the ticker symbol ‘FUN’ on the New York Stock Exchange. The majority of senior executives will be from Cedar Fair, with Richard Zimmerman assuming the role of CEO and Selim Bassoul, the former CEO of Six Flags, serving as the executive chairman.
The theme park industry has experienced significant growth post-COVID, with major players like The Walt Disney Co. and NBCUniversal heavily investing in park expansions. Disney is planning extensive developments in California and Florida, along with expanding its cruise ship fleet, while Universal is gearing up to open a new park in Orlando and a family-focused park in Texas.
The merger of Six Flags and Cedar Fair signifies a new era in the theme park landscape, creating a formidable force in the industry poised to deliver unparalleled entertainment experiences to guests across North America.
