Monday, May 22, 2006

Some more info and details about the Cedar Fair/Paramount deal

As you know, Dick Kinzel went on the NBC game show "Deal or No Deal" with Howie Mandel, and chose to take the banker's offer of $1,240,000,000 ($1.24 billion) for Paramount Parks. The Banker also threw in Nickelodeon licensing.

Seriously, here's some details from today's conference call:
- $1.24 billion price
- Cedar Fair, L.P. will own 12 properties
- Canada's Wonderland will be Cedar Fair's first investment outside of the United States.
- 25 million guests for the chain
- More diversification; no park will contribute more than 22% of revenue
- Nickelodeon licensing agreement, 4-year DEAL! (SHUT UP HOWIE!)
- Paramount movie licensing up to 10 years - Cedar Fair is looking at whether to keep or dump theming
- Cross-marketing possible
- No changes in operating schedules for Paramount Parks
- Cross-incorporate ideas between all the parks
- Maintain distribution policy
- No plan to divest any Cedar Fair or Paramount Parks properties
- 2007 capital investments and additions already in place, Cedar Fair will honor Paramount commitments, though no attractions over $20 million will be added
- Winterfest concept to be looked at, future to later be determined
- Cedar Fair will not expand/acquire any more properties for 3-4 years.
- Management of parks will be addressed
- Star Trek: The Experience at Las Vegas Hilton is included in the deal
- CBS will keep stock in Great Wolf Lodge
- Capital spending divided between two companies can be spent in a better way
- Will keep up Paramount's great safety record
- Deal was awarded late last night (Sunday) and voted on by CBS Monday morning.
- There was a number of interested bidders.
- Job cuts to be looked at after closing of deal, especially in corporate level
- No immediate effect on Geauga Lake
- No changes visible to public this season.

Sources: PointBuzz, PKI Central

DEVELOPING: Cedar Fair, L.P. to acquire Paramount Parks, including Kings Island!

"See, I told you so!"

As early as April Fool's Day, 2005, I made an joke on my website that Paramount's Kings Island was sold to Cedar Fair, L.P., the owner of Ohio's two other major parks, Cedar Point and Geauga Lake. Within next day, the fake announcement was pulled.

Then, later fall 2005, Viacom Corp. announced it wanted to divest Paramount Parks, and several players, including Cedar Fair, were mentioned as possible buyers, but that talk faded for a bit, as Viacom split into two companies: Viacom Corporation, including MTV, Nickelodeon, and Paramount Pictures. And CBS Corporation, including CBS and Paramount Parks.

Then, of course, this preseason, 2006, CBS Corp. itself announced its intention to sell the Parks, and once again, the Partnership out of Sandusky (where Cedar Point is) looked like to be one of the interested parties. But would one of other park (or non-park) companies be interested?

- Six Flags: New CEO Mark Shapiro announced they are not interested, after some hard times, including the closure of AstroWorld in Houston and the sale of its land, as well as some other properties.
- Anheuser-Busch: They might be a good fit for the Parks, but when did they last open or acquire a large theme park? Remember when they sold their Ohio SeaWorld to Six Flags?...
- Universal: Again, they would be most likely to continue the Hollywood concept, but I remember hearing stuff they wanted out of the park business. Paramount invested into the Parks, but very lightly compared to Universal has to its parks...
- Some investment group: What are they in it for? Viacom and CBS were in it more for the growth, return on investment, etc. Would this mean more of the same as Paramount (good or bad)?

Then, Friday Morning (May 19), I read that at the end of a stockholder's meeting, Cedar Fair CEO Dick Kinzel announces that they are interested in buying Kings Island. Just Kings Island itself, or any or all of the other Paramount Parks? That got things moving.

And now, it becomes reality: this morning, it is announced that Cedar Fair indeed has agreed to purchase Paramount Parks from CBS Corp, for $1.24 billion.

Questions and assumptions:

It is mentioned somewhere by Kinzel that this includes the rights to Nickelodeon characters - important, as Kings Island's new attraction this is the impressive Nickelodeon Universe children's area.

Not sure about the Paramount themes, but I'm assuming they're going away, and the park's name will simply become Kings Island. Same for Carowinds, Kings Dominion (2004 visitor here), Great America (Santa Clara, CA), and Canada's Wonderland.

What about Bonfante Gardens, which Paramount Parks currently manages, as well as Star Trek: The Experience at Las Vegas Hilton, and CBS Television City at MGM Grand in Las Vegas?

Rides/attractions planned for 2007 at Kings Island and other Paramount Parks? May Cedar Fair throw something in for next year, or hold off for something BIG in 2008. As you know, Kings Island is probably the biggest seasonal park around lacking a B&M (or Intamin) steel coaster and my bet is Cedar Fair will finally deliver.

Season Passes: My guess is through the end of the season, Season Passes purchased at a Paramount Park can only be used at Kings Island, Kings Dominion, Carowinds, Great America CA, and Canada's Wonderland. And for 2006, passes purchased through a Cedar Fair park will not be vaild at any of the current Paramount Parks. The deal is not exactly final and in stone, for one, and two, Paramount and Cedar Fair have different season pass and admission systems.
In 2007, can one use the same season pass to gain access to both Kings Island and Cedar Point?

What I can safely assume is that this summer will be interesting, and how a transition will take place!

Saturday, May 06, 2006

Louisville: A race before Derby Day

Following my visit to Beech Bend in Bowling Green, KY, I made the decision to stop at Six Flags Kentucky Kingdom before heading back home to Cincinnati, though knowing what very limited time I had - especiall since Bowling Green was in Central time zone, and Louisville is in the Eastern. This meant I had to head up I-65 in only two hours, then get to the Expo Center, home of the Six Flags park, which was scheduled to close in only 20 minutes from arriving at the main parking entry.

To my surprise, the toll booths were not staffed, so I avoided paying $5 to get in. The next surprise was even better: The park was closing at 8 pm, not 7! Very shocking, since there was hardly anyone in the park - if this were Kings Island, they would have closed at 7 pm, or worse, 6 pm! But Six Flags is being nice this year, so I made may way to my favorite coasters, like Greezed Lightnin', which had been rehabbed with a new* train and loop.

Next up was Chang, where the yellow and blue paint job is now complete, giving a smoother ride. It looks great, with real yellow - bit I personally wisk they kept the rails gray/silver than yellow, as the yellow has already been torn away through wheel wear. T2 was waiting for me, and it might have been due to two riders (me included), it was rough as hell. Next time I ride that thing, I'll go with a full train of riders!

Thunder Run is usually a pain to go through because of its low capacity and slow loading procedure, but because there were few people in the park, the load was sped up. I got two consecutive rides, front and back. The airtime was still great, but the train did a lot of shuffling - maybe I was spoiled by the new wood at HW and BB!

Twisted Twins, unlike my last visit, was running both sides. I got 2 on the pink side, one on the teal train. Still a good ride, but not as good as the other wood I've been on the past two days. Before leaving for the 8 pm close, I did the Roller Skater, another round on Greezed Lightnin' and closed with Roadrunner Express. Upon leaving the park, there were the Looney Tunes characters on the front gate plaza dancing and entertaining the departing guests. Again, Six Flags is emphasizing family entertainment - doing stuff I wish the 'Hollywood' park near me would do.

Walking out of the front gate, I noted that lately that the surrounding Kentucky Exposition Center, next to the park, has been undergoing a transformation. The new South Wing C was completed in October 2005, and now, the old East Wing is being demolished. Built in 1956, along with Freedom Hall and the West Wing, it was outdated because of its low roof and many columns, and will be replaced with a new hall similar to the newer South Wings.

Likewise, the days of the old Cardinal Stadium are probably numbered. Its tenants, minor league baseball, and University of Louisville Cardinals football, have moved to newer facilities, and its older 1956 design with columns are also a downside, and is only really used during the State Fair. It may be torn down to make way for a new indoor arena - Louisville has made bids for an NBA franchise, and of couse Freedom Hall, is aging. This also leaves the future of Freedom Hall and the West Wing in the air...

Surronding the KEC, area hotels were packed and stacked, as were some of the roads and retailers, the night before the Derby. Macy's at Oxmoo(r) Center was open late, past its usual 9pm closing. By 11:30, I made it back home, just as the Late Show with Dave was on. It was a memorable couple of days of coasters, driving, eating and more.


By the way, Kobe Bryant made a silly poop joke. More later.

Late report from the latest Trip: Beech Bend and Kentucky Rumbler.

I am finally back home from my Kentuckiana trip to Holiday World, Beech Bend, and Six Flags Kentucky Kingdom.

The two most important parts, were the media events held Thursday at Holiday World in Santa Claus, IN for The Voyage, and on Friday at Beech Bend Park in Bowling Green, KY for the Kentucky Rumbler, both wooden coasters.

I will have more later on about Holiday World and the Voyage, as well as SFKK.

Thursday night, I stayed at the Motel 6 in Dale, IN - it was cheap yet clean and had free wireless internet, not far from Holiday World, which was fine with me. It wasn't quite the Radisson on the 26th floor with a view, but satisfying.

Friday morning, I ate at the Denny's for breakfast across from the motel - $6 for a ton of stuff is great value these days. Then I drove south towards Bowling Green, crossing the beautiful William Natcher Bridge over the Ohio River, then down the Natcher Parkway. The Parkway was undergoing resurfacing, which slowed things down. Also, there are three toll points on the Natcher Parkway, which are supposed to be removed next year when the highway has been 'paid off,' but for now, it sets you back a total of $1.50

Before arriving at Beech Bend, I passed by Western Kentucky University and its athletics complex - a baseball park, a two-deck football grandstand, and recently renovated arena for basketball, plus a 25-30 some story tower, either for dorm rooms, classrooms or offices. Something fascinating about these places.

Also fascinating is the drive into Beech Bend - lots of trees and farms with fences that simply give you that great rural Kentucky feel - and before going into the park, there's a divided road with big trees in the middle, then you see some amusement rides and the big new wood coaster. Besides the park, there's also a campground, and racetracks, including a drag raceway that was in use Friday. The complex has been owned by Dallas Jones and family for about 20 years, who has transformed the place with many new, large rides and coasters in recent years.

Besides Darkride and Funhouse Enthusiasts (DAFE) and Roller Coaster Club of Great Britain (RCCGB) members, also invited were members of the regional media, politicians, officials, area businesses, and sponsors. There was a great large crowd of the media and guests on hand at first for the first new rides on the Kentucky Rumbler, but many left not long after after their work was done, and it was fair game for the enthusiasts. I got two rides in this session.

The coaster, was designed by Great Coasters International, Inc, who had designed several other well-known wood coasters, such as Wildcat and Lightning Racer at Hersheypark, Roar at Six Flags America, and Thunderhead at Dollywood. GCI, along with engineer Jeff Pike, is well known for its beautiful twisted designs, high banking, station fly-bys and close encounters, and articulated Millennium Flyer trains. Kentucky Rumbler only had one MF train, and the size of the coaster is small compared to other GCI creations, (and The Voyage!), but a lot of fun is packed into the layout, and gave a very smooth ride!

At about noon CDT, attendees were treated to a lunch catered by Whitt's Barbecue in the Dalls Jones Pavilion. While food was brought to Holiday World on Thursday, similar to what Six Flags parks have - Subway and Papa John's, Beech Bend visitors got nice non-park food. A video was playing in the background, of a new Discovery Channel special, that features Beech Bend and their new roller coaster.

A nice surpise for us came after lunch, when we were free to not just ride the Rumbler, but also the other 3 coasters, including the Wild Mouse, which was recently added. I sat with two other people in the spinning car, and in the second half of the ride, we were spinning so fast that I shouted some words that I prefer not to repeat here. Otherwise, a smooth, fun ride.

Next up, I did the Dragon, a small kid/family coaster. On the first trip with riders, the train got stuck in the middle - the big people on board caused the train to stop on a high point, which required a push from park staff. I got on the second ride, and while my train slowed at that point, it made it through on its own that time.

The other coaster was the Pinfari "Looping Star," which was relocated to another location this season to make some more room for the Kentucky Rumbler. I first rode it in 2002, and didn't find the ride much better. It was painful at best - but they let me take pictures!

I got a few more rides on the Kentucky Rumbler, which I was also invited to take pictures while riding. I got to sit almost everywhere, including the front and back seats. In the end, I must say that Beech Bend now has a signature ride, and one of the happiest people is park owner Dallas Jones, who has worked hard to make Beech Bend into a nice regional destination.

I probably could have stayed later on, but decided to make time to stop by another park on the way back home...

Thursday, May 04, 2006

Voyage: Mid Day Report

Checking in from my motel not far from Holiday World, I must report that I have ridden the new Voyage roller coaster 30 times, during the media preview and official launch!

The Voyage is everything they have hyped it up to be: there is at least 20 bouts of airtime, and a lot of intensity! Make your plans now for Santa Claus, Indiana and ride this new "classic" wood coaster, designed by our friends at the Gravity Group!

In the next half hour or so, I will head back to the park for four more hours of great ride time!

Tomorrow, I drive down to Beech Bend Park in Bowling Green, KY and ride the new GCI twister, Kentucky Rumbler! It may not be as intense as Voyage, but still a lot of fun.

Wednesday, May 03, 2006

Potpourri: Primary Polls, No Pujols, and Gearing up for The Voyage

Dateline Wednesday, the first primary election of 2006 is in, and after some heated campaigns, get ready for another round before this fall's Congressional elections and Ohio Governor. Ken Blackwell, former Cincinnati mayor and current Secretary of State, will represent the Republicans, and Ted Strickland will be on the DNC ticket in the Gubernatorial race. In the second district in Ohio, Jean Schmidt will continue her re-election bid as a Republican, as her Democratic opponent will be Victoria Wulfsin. Not sure how this race will turn out, but I'd be surprised if it were as heated as the special election when Schmidt went up against Paul Hackett last year.

There is a new balloting system in use here in Hamilton County, as well as other Ohio counties, which have done away with the punch-cards that were involved in the 2000 Presidential election in Florida. Here, it is a simple, one-sheet ballot, letter-sized. Voters fill in the blank rectangle with ink, making the one completely black next to the candidate/issue of choice. It, however, became very tedious having to fill in with a fine ballpoint pen - especially with races where only one candidate was running for that party. Next time, they should use some kind of marker that doesn't bleed into the other side. The process is finished when the voter inserts the sheet into the reader - it is accepted once a U.S. flag shows up on the display - making for an easier balloting system, while still providing a paper trail.

Not long after voting, I headed downtown Cincinnati for the Reds game against the Cardinals at the Great American Ball Park. I don't think I could have asked for better weather, and my seat was great, but can't say too much about the game. 3B Scott Rolen reportedly didn't make the trip to Cincinnati due to illness, and 1B Albert Pujols sat out due to a stiff back which probably resulted from Monday night's game. Jim Edmonds made a late appearance around the 7th inning, first pinch hitting, then at first base, then back to his usual position in centerfield. The Reds got the last say with an RBI in the ninth, winning 3-2. The Reds may be without Ken Griffey, Jr. but the Cincinnati ballclub has the best record in baseball so far, 19-9. Of course, the season is only a month old, and Pujols and Rolen will be back soon.

What's next? I am preparing for my "Voyage" to a "festive" town in southern Indiana. Arrival time: just after 6 am CDT. Before I go, rather than quoting a famous "sailing" Styx song, Chris Daughtry sang "Renegade" on American Idol last night. All 3 judges loved it!