Cedar Fair buys PARAMOUNT PARKS!

[man]

THANK GOD paramounts sucked at owning parks. Mabey great america will get some good stuff now.

[mightypotato]

It can be a good move for the parks. Look what happened to Dorney Park. Canada Wonderland would finally get a hyper!

 

I was just thinking that. With CF owning Canada's Wonderland now, they may actually get a decent new ride!

[robbalvey]

Right now concrete and trash can manufacturers everywhere are salivating at the thought of 5 more sterile looking parks, with acres of concrete walkways and more garbage cans than trees.

 

Don't get me wrong, CF runs their parks well and keeps introducing great rides, but the park environments are half carnival and half strip mall. Every time I walk into Dorney, I expect to see a Home Depot and a Pier One along the midway. They're just too generic and lack character.

 

um.... need I remind you just how many trees and not to mention a lake were removed to make way for PKI's newest coaster, IJ, which is themed to a CONCRETE parking garage. yeah.... It isn't only Cedar Fair. Also, didn't paramount remove trees from around grizzly at PKD for a stupid little oval-shaped go-cart track? Jjust wondering what PGA and PCar look like, but yeah...

-James

You also have to think of this from a "global" standpoint, not just the park down the street from you that's easy to criticize.

 

It's very easy for me to comment about SFMM because I go there all the time and I see things that other people don't, but for the most part, people who didn't grow up with the place and aren't there all the time usually come away from it having a good day.

 

Having said that, though, to clarify my 'for the most part I have to say that I've usually enjoyed my days at Paramount Parks' comment....I said "most part" because they certainly aren't without some hassle, and honestly out of all the parks in the chain, PKI does come to mind.

 

I've visited all the Cedar Fair parks and all the Paramount Parks multiple times in the past 5 years and I'd say that, other than Cedar Point, my visits to CF parks are brief and mostly unsatisfying, whereas my visit to Paramount Parks are usually at least a half day and are mostly enjoyable.

 

I will say that, on my last visit to PKI, most rides were closed, FoF was running one train, queues were spilling out in the midways, but at least I finally got in my Face/Off credit!

 

--Robb "PKI consistently has been the most hassle park in the chain, at least IMO." Alvey

[jamesdillaman]

It's nice to hear that the other parks in the chain aren't as bad as PKI has been lately, Robb. I said i didn't know how the others were as I've only been to PKI and PKD, but I really enjoyed PKD last month. I also enjoy cedar point and always have a great time at GL and Michigan's Adventure. I've driven past dorney, but alas my parents were more concerned about a silly wedding to stop... j/k, well halfway kidding. As for what I'd like them to do, I'd like them to move Magnum to KI to make way for the 1000 foot impulse coaster with 3 spikes...

-James

[Jonathan]

Some tidbits from the 11 AM investors conference call:

 

-They intend to keep all 5 Paramount Parks operational

-After this, it is unlikely that they will purchase any of the Six Flags parks that are for sale

-The Nickelodeon license extends for 3 more years and they have the option to extend it to the existing Cedar Fair parks

-Management issues for the individual parks have yet to be addressed (or at least made public...)

-Paramount contracts are being reviewed in regards to the movie and television licensing. No word yet on whether they will have to retheme or not.

-The Star Trek Experience in Las Vegas is included in the deal

-There are 939 acres of undeveloped land between the Paramount Parks that can be used for expansion (80 acres at Canada's Wonderland and several hundred at Kings Island; no specifics given on the other 3 parks)

-hotels may be considered (similar to how Cedar Point has Breakers, Breakers Express, etc)

 

For the most part, it was financial questions. I wouldn't be surprised if the 1 PM call for the media has more information that interests us.

[jamesdillaman]

That's something else I'm excited about, PKI has TONS of land available for possible expansion, and the Kings Island Inn is in dire need of an update... Breakers Express is nicer, IMO. Interesting that Star Trek is included, I guess the rights to that pretty much have to be included, as without it.... um yeah not much there, is there?

-James

[SharkTums]

Yeah I'm still really on the fence with this one.

 

To me it seems like Paramount and CF both had pretty major issues at their parks, now they're going to combine!??! I don't think that's a good thing. Did CF not learn anything from the Premier Six Flags acquisition days??

 

I need a lot more details before I see how this will really affect me (ie Season Passes, New Rides, Theming, etc.) So only time will tell.

[TheGreatOne]

It can be a good move for the parks. Look what happened to Dorney Park.

 

You mean the part where they took out all of the history, heart and soul from it?

 

but for the most part I have to say that I've usually enjoyed my days at Paramount Parks and found them to be mostly "hassle free", which I honestly can't say the same for my last visits to Knott's, Dorney, Worlds Of Fun, or Valleyfair.

--Robb

 

That's exactly how I feel. Chalk me up on the pessimistic side of this deal.

 

I honestly can't believe no one mentioned the worst part of this deal...all Five Paramount parks are going to be Pepsi parks! Ugh!

 

I can confirm the following rides will have trims added to them after the acquisition is complete:

 

Both Eiffel Towers, Carowinds' Scooby Doo dark rides, all waterslides at the Boomerang Bay waterparks.

 

Don't ask me how I know...I have my sources.

[SharkTums]

OMG!!!

 

I didn't even realize the Pepsi thing!!! Now I'm no longer on the fence, I am way on the 'this sucks' side, yelling things at the people on the other side!

 

Looks like I'll be visiting Disney & Six Flags parks more!!!

 

Come on coke, offer Cedarmount a great new deal!!!!

[OzCatter]

Dang, right as we get a new Snoopy costume for WOF..........

 

I see this as the mounting thing for a vacation next year, I might have to conquer Ohio now that I have admission to the big 3

[jamesdillaman]

Another thing that would be nice is workers from all over with places to live at the parks. Cedar Point does this, and even during the school year, all the coasters seem to be running. PKI becomes a limited operation park during school seasons, as all the workers are teens from Cincinnati. I should know, I used to be one of them... Anyway, only time will tell, as Elissa said. A lot of my opinion will hedge on what CF decides to do in light of season passes. I wonder how much was paid for the paramount chain... You'd think CF would have to take out a huge loan to make this sort of aquisition, so I don't think any large improvements will be soon in coming to any of the parks, maybe even the CF parks. A couple more years of "New for 2008: Paint on the Racer!" will undoubtably follow.

 

Also I hope one pass will get me in to all 3 parks in Ohio, but until details are released, I'm not sure.

-James

[QueerRudie]

Scene: Meg Ryan in Sleepless in Seattle-

 

"OH YES, OH YES, OH YES, OH YES, OH YESSSS"

 

I can only hope that PKD will be freed from the bounds of the under-height ride- I've always had a fantasy of a hypercoaster/Giga Coaster/TeraCoaster running alongside Rebel Yell- through/under the crossover to WaterWorks and behind Anaconda.

 

Having had the great pleasure to see Cedar Fair invest in what can be said as some of the greatest steel in the world (I'm still disappointed in the wood factor), it can be expected that perhaps we'll see a Beemer in PKD. Please. For the love of God. It's Three hours for a Beemer fix in this state.

[Bush985]

Being at a management level at PGA. I am kind of worried about my future. It will be interesting to see which changes CF implements and what they do about some of the existing problems at PGA.

 

I can hope these changes will only be for the better.

 

I guess we can only wait and see.

 

-RD

[TheGreatOne]

http://viavid.net/dce.aspx?sid=000031D5

 

In case anyone wants to listen online to the 1pm EST conference call for the media today...you have less than 10 mins.

[CreativeForce]

Just curious, I didn't see any mention of Bonfante Gardens. Didn't Paramount have a management deal with them? Anyone know how the CF deal will affect this great little park?

[TheGreatOne]

Actually, they have the Nickelodeon names for 3 more years and they said they might license the names in the same way Paramount Parks did.

 

and...Bonfante Gardens is going to be picked up by CF.

[Angry_Gumball]

This should be interesting. What will happen to the newly-added Survivor? Is it going to have some kind of facelift as it's currently themed to Survivor? It should also be interesting to see the namechanges for PGA's DropZone and Top Gun. I just hope they don't change it to some generic name like "Dominator" and "Headspin." Those names kinda feel odd to me.

[Jonathan]

Here's what I picked up from the 1 PM media call:

 

-Paramount and Nickelodeon are separate contracts. The Nickelodeon contract has been extended as mentioned above, but there is no decision yet on Paramount. From what I gather, it looks like they will be dropping that, and it was inferred that all parks will drop the Paramount name.

-They will likely work out a season pass good at all 12 parks.

-No changes to any of the parks for this year as the season has already started

-They will re-evaluate pricing at the new parks.

-"Most experts feel The Beast is the best wooden coaster in the United States"

-The lease for the Paramount Parks corporate headquarters in Charlotte expires at the end of this summer.

-The deal includes the lease with Bonfante Gardens.

-The new Cedar Point coaster (errr.. mystery attraction) will be announced in late August.

-They have no plans for national promotions and agreements (IE: the Six Flags Home Depot agreement).

-500 acres for development at Kings Dominion and "a few acres at Carowinds"

-no significant pre-existing ride deals for the 5 Paramount Parks (IE: when Cedar Fair bought Knott's Berry Farm, they had already signed a $20 million deal for Ghostrider).

-4 more years on the Nickelodeon contract (they said 3 during the 11 AM conference)

-the Paramount license runs for an additional 10 years, but there is a buyout clause that they may option after this season

[Bush985]

According to Kinzel in the 1PM conference the deal will remain intact. There is no change as far as the management deal.

 

I'm glad to hear this. He actually seemed quite upbeat about Bonfante.

 

-RD

[robbalvey]

Why does everyone keep saying "Oh, good now might get a hyper."

 

This makes no sense to me. Where is Knott's hyper? Where is Michigan's Adventure's hyper? Where is Geauga Lake's hyper?

 

In fact, has Cedar Fair built a hyper at *ANY* of their properties since Millennium Force in 2000?!?!?

 

I'm not sure where this misconception of "Cedar Fair buying a park equals intant hypercoaster" comes from, but take a step back and if you're expecting a hyper in your local Paramount Park to appear in the next couple of years I think you're setting yourself up for a major dissapointment.

 

--Robb

[pianojohn]

Wow. Just wow!

 

Hopefully next year, I can just buy 2 Season Passes (Six Flags and Cedar Fair) and cover the majority of the major theme parks in the US .

 

I only hope they can bring the Beast back to its pre mid 1980's glory days. Maybe they can tear down SOB and use the wood to re-track it!

 

Hey, I can dream...can't I?

[disneyfan1313]

Wow. I kinda feel in the minority here, but I'm leaning to the "I don't think this is that great of news" side. Paramount parks (imho) took the time to be a bit more themed, flesh out their attractions a bit more, and not fall into the coaster fan boy mentality that the Cedar Fair Parks seem to more often than not.

 

Remember folks.. competition is a good thing - if you want to go to a park in Ohio now - you are locked into one of their properties - why would they want to innovate?

 

I do think that we will see a property close within the next few years (cough Ohio cough) and unfortunately probably see the Star Trek Experience go as well ( which I really enjoyed on my last trip to Vegas).

[TheStig]

Im buying 50,000 shares of stock in trash cans right now....

 

Colin"Good job CF!"C

[TheGreatOne]

Remember folks.. competition is a good thing - if you want to go to a park in Ohio now - you are locked into one of their properties - why would they want to innovate?

 

I also fall into the skeptical view of this deal.

 

However, one of the CF head honchos had this to say in the conference call. There are plenty of places for families to go in Ohio. They are still competing with non-park places to attract families and guests.

 

Kinzel also had to keep shooting down people bringing this up in the conference call. PKI and CP do not compete! They're a good 4 hours away from each other. That would be like saying Six Flags over Texas competes against Six Flags Fiesta Texas. It doesn't happen. CP's top three markets are: Detroit, Cleveland, Toledo. PKI's are: Cincy, Columbus and Indianapolis. While they do slightly overlap in Columbus, Dayton and Indy, it is not enough to qualify them as competing parks. They do not compete in each other's major markets in the way that Los Angeles or Orlando theme parks do.

[Meteornotes]

I think this is bad news. Competition is a good thing, and this eliminates some of that. I think Knott's and Dorney have gotten worse under the control of CF. And more parks selling the swill that is Pepsi is ALWAYS bad!!!

 

What "experts" think the Beast is the best coaster in the US? Brake manufacturers?!? Another reason why those Golden Ticket awards really need to be sent to people that have actually left the state of Ohio.

 

The "we're getting a hyper!" theory is so silly. I remember this phrase being tossed around when CF took over Michigan's Adventure, like it was a done deal. So much for that theory...

 

dt