The combined company, worth more than $3.5 billion, will boast 27 amusement parks, 15 water parks and nine resort properties in the U.S., Canada, and Mexico. It will also have entertainment partnerships and a portfolio of intellectual property including Looney Tunes, DC Comics and Peanuts.
Six Flags and Cedar Fair, which have little geographical overlap, anticipate $120 million in cost savings within two years of closing the deal. “Our merger with Six Flags will bring together two of North America’s iconic amusement park companies to establish a highly diversified footprint and a more robust operating model to enhance park offerings and performance,” Cedar Fair CEO Richard Zimmerman said in a prepared statement.
The company's newly formed board will include six directors from Cedar Fair and six directors from Six Flags.
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Six Flags, Cedar Fair near merger: reportJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
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