"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!
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