Arlington, Texas—Six Flags Entertainment Corporation and Cedar Fair have finalized an $8 billion merger, creating a colossal entity within the theme park industry. This collaboration combines the strengths of both companies, resulting in ownership of 27 theme parks, 15 water parks, 9 hotels and resorts, as well as various other properties spanning the United States, Canada, and Mexico.
The merger marks a significant milestone, providing enhanced value and expanded opportunities to deliver immersive entertainment experiences, stated Richard Zimmerman, the president and CEO of Six Flags Entertainment Corporation. Cedar Fair’s portfolio includes popular destinations like Knott’s Berry Farm in Anaheim and Cedar Point in Ohio, while Six Flags owns iconic parks such as Six Flags Over Texas and Six Flags Magic Mountain.
By joining forces, the companies aim to leverage their combined resources to offer a more diverse range of parks in key locations like Florida, Texas, and California. This strategic move allows for year-round operations in regions where seasonal closures occur due to winter weather.
With a focus on utilizing licensed intellectual property, Six Flags retains rights to characters from DC Comics and Looney Tunes through an agreement with Warner Bros. Discovery, while Cedar Fair holds control over the Peanuts universe. The newly united company will trade under the ticker symbol “FUN” on the New York Stock Exchange, with most senior executives coming from Cedar Fair.
The theme park industry has seen significant growth post-COVID, with companies like Disney and NBCUniversal investing heavily in expanding their park offerings. While the new Six Flags entity may not match the scale of Disney or Universal parks in Florida and California, its widespread presence across the country presents unique opportunities to deliver unparalleled joy and excitement to guests.
Selim Bassoul, appointed as the executive chairman of the board of directors of Six Flags Entertainment Corporation, expressed enthusiasm about uniting the teams of Cedar Fair and Six Flags to capitalize on growth opportunities and operational efficiencies within their extensive entertainment portfolio. The merger establishes a robust operating model that enhances park offerings and performance through a blend of attractive assets and intellectual property from both Cedar Fair and the former Six Flags.