SeaWorld Entertainment, Inc. Announces Buyback and Hill Path Capital to Increase Investment PR Newswire PR NewswireMay 28, 2019, 11:15 AM GMT SeaWorld Entertainment, Inc. to purchase approximately 5.6 million shares from an affiliate of Pacific Alliance Group ("PAG"); Hill Path Capital to purchase approximately 13.2 million shares from PAG and increases equity stake to approximately 34.5%
ORLANDO, Fla., May 28, 2019 /PRNewswire/ -- SeaWorld Entertainment, Inc. (SEAS) ("SeaWorld" or the "Company"), a leading theme park and entertainment company, announced today that (a) the Company has entered into an agreement to acquire approximately 5.6 million shares for approximately $150.0 million from an affiliate of PAG and (b) Hill Path Capital LP and certain of its affiliated investment funds ("Hill Path"), a long-term SeaWorld investor have entered into an agreement for certain of such affiliated investment funds to acquire approximately 13.2 million shares, from an affiliate of PAG, increasing its equity stake in the Company to approximately 34.5%.
Unfortunately the news media knows that people respond to "supposed" mistreatment of animals, especially from corporations like Seaworld.
The general public all think they know what is best for these animals, that they know more than the countless Seaworld employees who literally studied these animals, spent years of their lives in college to earn marine biology degrees, have rescued 100s of animals, etc.
It's the news equivalent of clickbait, and unfortunately it works.
My sister and her husband both worked at Seaworld as animal care specialists for years. Let me tell you, it is not an easy job. Animals don't take holidays off. Animals also don't care what time of the day it is when they need care. So you have to give up 1/2 of your holidays and can be called in to work at 2:00am. Also, the pay is not great...at all. I was shocked when I glimpsed my sister's paycheck. These people work with these animals because they LOVE them, not for the money. So it's absurd to think that the animals are mistreated.
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