Yahoo Finance Six Flags and Cedar Fair Merge to Form New Company and Tease New Rides on the Way
The merger, which has created the new Six Flags Entertainment Corporation, is worth an estimated $8 billion
Rich Fury/Getty Images
Six Flags Magic Mountain in CaliforniaSix Flags and Cedar Park have finalized their merger to form one big amusement park corporation.
Six Flags, one of the largest amusement park companies in the U.S., announced on Monday, July 1, that it has officially merged with fair entertainment company Cedar Fair, L.P. to create Six Flags Entertainment Corporation.
“We believe that by combining the best ideas and most successful entertainment practices of both Six Flags and Cedar Fair, the new Six Flags can deliver a superior level of joy and excitement that has yet to be experienced by regional park guests,” Selim Bassoul, executive chairman of the board of directors of Six Flags Entertainment Corporation, shared in the press release.
Despite the merger, the company noted that there are “no changes” to park names “being planned or contemplated,” per to the press release. There will also be no changes to the amusement parks’ season passes, rewards or loyalty programs this year, a spokesperson told Texas media outlet KSAT-TV.
Xinhua/Shutterstock
A roller coaster at Six Flags Fiesta Texas in San Antonio, TexasRelated: Jeremy Renner Visits Six Flags with His 'Amazing' Family 3 Months After Snowplow Accident
Six Flags Entertainment Corporation’s president Richard Zimmerman, who is the former president of Cedar Fair, said that park-goers can also expect new rides and new technologies to be implemented at the parks following the merge, according to Philadelphia outlet WPVI-TV.
The merger, which was first announced in November 2023. is worth an estimated $8 billion, according to a previous press release,
The new company is set to operate under the Six Flags brand, according to WPVI-TV.
Now that the merger has been completed, Six Flags Entertainment Corporation also shared that it has a new “ticker symbol” for its stocks traded in the New York Stock Exchange, and that it will be traded under “FUN.”
John Greim/Shutterstock
A roller coaster at Six Flags Great Adventure in New JerseyRelated: Mariah Carey Suffers Relatable Moment in Theme Park Outing with Twins: 'Never Again with the Heels!'
“Our merger establishes a new Six Flags Entertainment Corporation with a highly diversified footprint and robust operating model, enhancing park offerings and performance though the complementary portfolio of attractive assets and intellectual property from each of Cedar Fair and the former Six Flags,” Zimmerman said in a statement in the release.
“The combination also enhances the financial profile of the company with strong cash flow generation to accelerate investments in our parks to delight our guests, driving increased levels of demand and in-park value and spending,” he added.
The PEOPLE Puzzler crossword is here! How quickly can you solve it? Play now!
Debbie Egan-Chin/NY Daily News Archive via Getty Images
Kingda Ka, the world's tallest and fastest roller coaster, at Six Flags Great Adventure in New JerseyNever miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.
Prior to the merge, Cedar Park owned more than a dozen amusement parks across the U.S. including Knott's Berry Farm, Carowinds, Kings Island, Dorney Park and its flagship location Cedar Point, located in Ohio, while Six Flags owned 14 different parks.
The combined company will operate a portfolio of 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada, and Mexico, according to an earlier press release.
A full list of the amusement parks under the new company can be found on their website.
For more People news, make sure to sign up for our newsletter!
Read the original article on People.
