by Donald Wood
Last updated: 9:00 AM ET, Thu June 20, 2024
Six Flags and Cedar Point’s parent company, Cedar Fair,
announced that the $8 billion merger will be completed on July 1, 2024.
According to WKYC.com,
the combined company will move its headquarters from Texas to Charlotte, North
Carolina, with “significant finance and administrative options” in Sandusky,
Ohio.
“Immediately following the closing of the mergers, the
combined company will be renamed ‘Six Flags Entertainment Corporation’ and
trading of the combined company’s common stock on the NYSE is expected to begin
on the day following the Expected Closing Date, July 2, 2024, under the ticker
symbol FUN,” a Six Flags spokesperson said.
Cedar Fair and Six
Flags also unveiled a leadership plan for the theme park company, with Tim
Fisher being named Chief Operating Officer, Brian Witherow as Chief Financial
Officer, Christian Dieckmann as Chief Strategy Officer, and Gary Mick as Chief
Integration Officer.
Cedar Fair currently operates 17 amusement parks and 11
resorts, while Six Flags operates 27 amusement parks. The properties will
combine into one company named Six Flags Entertainment Corporation.
“Our merger with Six Flags will bring together two of North
America’s iconic amusement park companies to establish a highly diversified
footprint and a more robust operating model to enhance park offerings and
performance,” Cedar Fair CEO Richard Zimmerman said.
“Together, we will have an expanded and complementary
portfolio of attractive assets and intellectual property to deliver engaging
entertainment experiences for guests,” Zimmerman continued. “The combination
also creates an enhanced financial profile 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.”
“I have great respect for the Six Flags team and look
forward to joining forces as we embark on this next chapter together,” Zimmerman
concluded.
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