http://www.mercurynews.com/mld/mercurynews/entertainment/gossip/14640092.htm


QuikQuote: Cedar Fair LP, an Ohio-based amusement park operator, is buying the Paramount Parks business from CBS Corp. for $1.24 billion in cash, the companies announced Monday.
CBS Corp. had been looking to sell the parks business, which didn't fit with its media holdings. CBS Corp., which split up with Viacom Inc. at the beginning of the year, owns the CBS network and a group of affiliated TV stations, a large radio business and an outdoor advertising company. Viacom, which owns MTV and VH1, kept the Paramount movie studio.
The five Paramount parks being sold to Cedar Fair are: Canada's Wonderland, near Toronto; Kings Island near Cincinnati; Kings Dominion near Richmond, Va.; Carowinds, near Charlotte, N.C.; and Great America located in Santa Clara, Calif.

Does that mean those parks will be gaining a "Camp Snoopy"? :)

Since it's not on the list, I'm guessing that the "Star Trek Hilton" in Vegas is apparently still going to be a Paramount property.

Cedar Fair is taking over running Star Trek: The Experience, along with running Bonfante Gardens.

This year, the parks will be run by Paramount, as the sale isn't expected to close until the third quarter.

Cedar Fair execs have said no decisions have been made on what to do.

They can either keep the Paramount name on the park (part of the deal is a 10 year agreement to use the name and related characters, such as Crocodile Dundee), or they can remove the branding, and make them stand-alone/Cedar Fair, L.P. parks (such as Kings Island, Canada Wonderland, etc.) The CEO, Dick Kinzel has said they will not rename the parks, such as getting rid of Kings Island. One possibility has Great America getting renamed Knott's Great America.

Also, Cedar Fair has the right to feature Nickelodeon Characters at the Paramount parks for 4 years, and the right to offer those characters in their current parks for an additional fee.

I presume they are looking at all there options, but pretty much the final decisions will be made this fall, and changes will start to be made during the off-season, especially since the majority of the parks of Cedar Fair/Paramount are seasonal due to weather issues.

As for Snoopy, as far as I understand it, the agreement with United Feature Syndicate (the owners of the right to the Peanuts Characters) is for nationwide use at any Cedar Fair theme park, so they might add them, maybe a problem with Canada Wonderland, though they probably could get a new agreement with UFS.

Anyone know if this deal include Bonfante Gardens?

Anyone know if this deal include Bonfante Gardens?

Yes, Cedar Fair is taking over BOTH the Management contracts at Bonfante Gardens and Star Trek: The Experience.

Interesting to note, that the LV Hilton charges a lease for operation, but paid for and owns the major improvements (such as the simulators and main scenes).

For 2006, everything will remain the same, as the deal needs to go thru. As for 2007, more than likely Cedar Fair will continue both Management contracts (BG and ST:TE), as there is very little risk, and a decent cash flow....

The Cedar Fair execs have made it clear they don't plan to get rid of any asset they bought from Paramount.

Cedar Point in Sandusky, Ohio is my favorite non-Disney park. It's beautiful, staffed by above-average employees (many visiting from Eastern Europe), and has coasters that are more scenic than those at Magic Mountain in California. If Cedar Fair takes over parks I would guess that they would improve.

Thanks Darkbeer for posting this news. We were planning a trip to Toronto for a Red Sox game and to Niagra Falls and were looking for a park to go to. Six Flags in Darien Lake was not open on Tuesday, so we thought we were out of luck for a park to visit, til I saw that you listed one in Toronto. We looked it up on-line and it was open so we went. Had a great time, except for the heat. Who would imagine that it would be 92 degrees in Canada in May?? We felt like we were in Florida.