BREAKING: Six Flags & Cedar Fair are MERGING?!
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- Опубликовано: 3 окт 2024
- Here's the investors' press release: investors.sixf...
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The merger was created based on stock and a quarterly earnings report. The potential $200m alleged to be saved by the merger will simply be paid to shareholders and not invested in the parks. How many times have we seen this happen with other companies? Eliminate competition, raise prices and lower the quality of experience. None of this is good.
I heavily, heavily disagree with this. the competition is still there in Disney and universal. this is just homogenizing the companies to fight against a common enemy.
@@ziiziireacts8065How exactly is it “fighting a common enemy” when Universal and Disney’s destination parks are solely in California and Florida? Cedar Fair and Six Flags parks are far more spread out.
both budgets together is better than seperate
That's even worse because the DOJ will use that as an excuse to let this slide, and Disney/Universal are in a different league anyway@@ziiziireacts8065
@@ziiziireacts8065 Disney and Universal aren't competitors. There are regional competitors to SF/CF, but Disney and Universal are destinations. My local Six Flags is something I do with my family on a weeknight or weekend day (we buy season passes.)
I like my local SF park, but c'mon, it's not in the same league as when I fly to CA and take my family to Disneyland.
I hope Cedar Fair can fix a bunch of Six Flag problems and that the Cedar Fair parks don't get dragged down. But especially for Knotts. If they mess up Knotts there are going to be a lot of upset fans. Knotts is too important to be wrecked and it's so close to being perfect. I love Knotts.
Cedar Point as well. For the first time in it's 153 year history it's just one of the parks in a heap.
Knott’s is already going through a struggle as is respectfully. Also, as much as people like to dump on Six Flags, there has to be something they’re doing right to draw in crowds, otherwise they would’ve been dissolved as a company by now.
The thought of Six Flags taking over Knott's makes me sick. It took Cedar Fair a looong time to realize Knott's isn't Cedar Point. Bad omens everywhere.
@@ItsSiebay It's kind of the only game in town for big rollercoasters. If Knott's had room to expand Magic Mountain would be a memory.
@@ItsSiebay I'm not really sure what you're talking about, post pandemic Knotts has an annual increase in attendance while MM is trending down, with another 5% loss recorded so far in 23. Pre-Pandemic Knotts was crushing MM and continues to do so anyway. Numbers aside, nobody in their right mind who has ever experienced both parks will wish to turn Knotts into another 6 Flags operations nightmare. Like nobody even questions this stuff.
This is good for shareholders but bad for everyone else. We need healthy competition.
I'm unhappy that CF has never made a major investment in Michigan's Adventure in the decades they've owned it. I assume that's because they're happy that most Michiganders will go to CP or KI instead. It will certainly be worse if the same company also takes control of SFGA.
Yeah, but it's a very long drive if you're from the 2-million-plus Grand Rapids Metro area. Not every Michigander is somewhere near Detroit which can easily skidaddle down the I-75 -> OH-02 into Ohio.
If nobody's going to build up Michigan's Adventure then I will!! I'm a self made millionaire and my intention is to make M.A. the greatest park in America within the next 10 years!! We need a top tier Intamin + RMC ibox hybrid (maybe Wolverine Wildcat with extended track) + B&M hyper flyer. 3 elite coasters, plus a little TLC to keep Shivering Timbers awesome long term, plus 3 nice restaurants with quality and healthy dining plan options, plus 2 show amphitheaters kind of like what SeaWorld has but focusing on Michigan natural beauty and Michigan lake/forest wildlife.
Also, a nice expensive and destination hotel, sand volleyball courts by the lake, early May to end of October park schedule like Cedar Point, and keeping the park open until 11pm weeknights. We're going to make North Muskegon/Whitehall a real destination, not a drive up US-31 just to pick up some credits for enthusiasts, or for West Michiganders just to take the kids in summer.
i would imagine with the amount of debt they are taking on, these smaller parks will get sold. that will be a win for Mich Adv and other afterthought parks in the chain, and maybe an operator who is looking to grow like knoebels or silver dollar city operators make these purchases and start investing again. But you are 100% accurate that this is a loss for the consumer, as stifled competition has never led to better quality. and you would have thought cedar fair would have learned their lesson after the paramount purchase that took years to recover from. gone are the days of actual innovation turned in for just appeasing the shareholder. that mindset is what is dragging every american industry down.
In fact I'm about to buy more before January six flags is cheaper so it would be twice as much
@@iluvhousemuzic I didn't see anything about new debt in this news story. It's a stock swap. Are you saying that the 2 companies already have too much debt?
@@FameyFamous yes. Six flags especially.
I feel like alot of stuff is about to go downhill. When company's get this big property's get forgotten, hopefully this doesn't happen here.
None of these parks will really have competitors anymore or reason to put in these major attractions like top thrill 2, don't get me wrong, I'm sure we'll still see new additions, just not in the magnitude we've been seeing, all of their parks are under the same umbrella so why would they throw a 300 foot attraction at a park if it's going to affect the attendance of another park they now own 300-400 miles away. They either have to improve every park at the same rate or risk eating away at the other parks in their massive portfolio now. I just hate to see it from that standpoint, but they will save a ton of money by not having to compete with each other anymore. It's not like Universal or Disney is popping up new parks left and right to compete with them other than a few small kids parks/haunt parks planned. I just hate to see this; I feel like any hope of major additions to parks of relatively close relation is toast.
@@augusttttx there's more to parks than major additions. Operations, safety, friendly staff, upkeep and food are all even more important.
@@augusttttx Universal is building a brand new theme park what do you mean? They are building a kids park in Texas, and an attraction in Vegas. They are also building one of the best rides in California which will compete Magic Mountain. Tf you on?
I talked about that as well in the second comment if you read all the way through@@tomatosofficial1124
@tomatosofficial1124 Yes, they're adding stuff, but when universal starts competing in markets other than Florida, and California, ill count them in as competition, but a kids park in Texas and a fright park in Las Vegas isn't going to compete with cedar point in Ohio the same way great adventure competes with them
I am just happy SixFlags is now getting a Giga, and Cedar Point finally getting a Batman
Kings Island will no longer have the bat but instead it will have Batman
Noooooooooooo
no more Batmen please......
All of the US Intamin Hypers and Gigas are now in their grasp
This comment is amazing
This just seems like a recipe for disaster
I'm not a fan of this at all. I prefer Six Flags and Cedar Fair being separate entities in competition with one another.
Let’s be honest here, this is beneficial to one group only - shareholders. I can see a slow decline of service, coasters both variety and maintenance, and a definite rise in costs as more they geographically control the theme park market. Bad news all around.
They dont control florida at all. Pennsylvania is also a big one
@@5higuyhahahahaah they will be a monopoly
normally i would agree with this view-i absolutely loathe monopolies and gargantuan corporations, and think competition is the key, however, in this case, i think it is the exception to the rule. both companies were drowning in debt, and attendance has been way down during the pandemic. i think they both saw the writing on the wall, and made this deal to save each other. and i am hopeful that they will use the savings to invest in new attractions and improved operations in order to attract more attendance. in the end, you might be right, and they will run it all into the ground. time will tell.
Lets hope they dont pull a geauga lake 💀
Man of Steel Vengeance......
It’s so weird that six flags is now going to own cedar point 🤣
It’s so weird that six flags is now going to own cedar point 🤣
@@Starlit43I mean they don’t really. Cedar fair is still in charge
@@zachmoore7274 what I meant was that they’re changing the corporate name to six flags.
@@Starlit43 oh okay. I didn’t realize that
Technically it isn’t a monopoly because of Universal and Disney, but in reality we know these big two cater to a different market than Cedar/Six Flags. Cedar and Six Flags used to compete directly, they really didn’t compete against the other two. Universal competes directly against Disney. Both groups used to be duopolies actually. In my eyes, Cedar+Six Flags is definitely a monopoly. Sure, you have regional parks like Dollywood, Hershey Park and others, but those are unique. The only other big “chain” is SeaWorld/Bush Gardens, but I don’t see it as a competitor to Cedar+Six Flags
Well said. I hope the government at least looks at this, but it is probably of low concern considering theme parks are not essential but discretionary/luxury in terms of people’s wants and needs.
I don't understand why Microsoft got so much flack and scrutiny for buying Activision, which imho is a non-issue.
While this? This is what the laws are made to prevent, but this is just allowed?
I smell corruption!
I feel like some of the smaller parks will get sold off
I'm nervous too. Please don't change my Knott's Berry Farm
This is going to be a terrible idea for us consumers..
intamin was so close to get to work with six flags and now that’s not going to happen.
Went to Cedar Point for the 1st time this summer and was blown away how the park looked and operated. It was well maintained. My home Six Flags park is GA is it looks sad in comparison. I hope the parks take a turn for the better in terms of theming and upkeep.
@nbaresejr
Which park do you mean by GA?
Great Adventure or Great America?
@@G.P.M.07he means great america because great adventure’s abbreviation is GADV
The Cedar Fair names need to stay!! Six Flags is garbage. Tons and tons of ads all over their parks; even on the seat backs of coasters?? No thanks!!
I just hope we see more investment everywhere, and hope that cedar fair management finds its way into six flags parks.
But… what I hope for the most, is good operations on ghostrider 😃
Only time will tell if this is a good thing or not! Right now we all have more questions than answers!
I have mixed opinions about this because this feels like Six flags needed saving when Cedar Fair is doing pretty well already. I just feel like Cedar fair should've offered to buy some of Six flags struggling parks and revamp them like how they did with the paramount.
Get rid of Selim Bassoul. He drove the Six Flags chain down.
I was a short drive.
Hopefully the laggard six flags parks don't bring down the whole combined chain
I hope the Cedar Fair parks don’t become dumps like the Six flags parks.
Not all SF parks are dumps. Give me a break
The Cedar Point CEO will be in charge while the Six Flags CEO will be the executive chairman. This could be good, bad or in between. They may run Cedar Fair and Six Flags parks the same way they are now while improving operations that's the best hope.
Six Flags near Chicago is a nice park and the largest.
2 things. 1) I hope the parks keep their names the same. I don’t wanna visit six flags knots berry farm. 2) I hope the cedar fair parks don’t get overrun with advertisements or become cookie cutter parks.
I'm just hoping they don't mess with knott's food quality.
They won’t because they would’ve of ages ago
Cedar Fair already had Knotts, its the six flags parks that will benefit ... maybe..
Biggest con will be us not seeing another coaster war from these two ever again
The more I think about it, this is my biggest concern. Competition makes good things happen for us consumers.
The Cedar Point vs Magic Mountain war was amazing, each trying to have more coasters than the other
@@VictorDevezeactually it wasn't from a financial standpoint because it was the other parks in the chain chain that suffered as a result.
I kinda believe that was cedar fairs whole intention from the day they acquired Geauga lake in. 04.. they bought with the intention of shutting it down by deliberately not making desperately needed investments so that when attendance dropped kinzel had the excuse he needed for doing so but what he really wanted was a quick source of rides to add to the newly acquired acquired paramount parks.
They likely will be forced to sell of some parks to other amusement park operators. Maybe SeaWorld buys some. Imagine SeaWorld buying some of the smaller parks in each chain and taking over, turning them into SeaWorld or Busch Gardens parks. Then they may find themselves in the middle of a coaster war. And like that, competition is back.
G'day! This would be a disaster for everyone who cares about the industry and roller coasters in the US. The reason is simple. The larger the corporation, the shittier it’s product and customer service. They become “too big to fail” and then slowly fail. Competition is healthy for both of these giants and we honestly need them to be split, not combined. No single owner should control that much of a single industry.
Cheers!
P.S. Note: Cedar is the one in control, but I do wonder, if it'll be like merging a pitcher of sewage with a barrel of wine. Lol!! 🤣
I agree. This merger should never have been allowed.
There wasn't much competition in this area of amusement parks and now there will be almost none.
USA regulators are blind (or payed?) !
Cedar Fair will school Six Flags on how to maintain and operate a park!! 😂
Side note… remove the comfort collars from WCR! Seatbelts and lap bars are sufficient!
Listening to the earnings call I think the main reason was market share, consolidation of expenses and a stronger borrowing position. Cedar Fair mangement will be in charge but the name will be Six Flags. They did mention not wanting to change the names of the parks and adding season passes to all parks and possibly adding Cedar Fairs meal plans to Six Flag properties.
Also landscaping and maintenance like Cedar Fair. Just have to wait a see how it all settles.
I have a six flags diamond elite pass they better not take it away
So my Cedar Fair season pass will work for Six Flags parks?!?!?
DC, Bugs, and peanuts are staying - FOR NOW. Things could change as soon as 2025. It wouldn't make much sense to raise company wide season passes. Most people would only use them at 1 or 2 parks anyways and yes some people would increase the frequency of their visits, but not many. The affect would be that they will sell more passes. What will have the largest affect on prices is the lack of competition. This may cause prices to rise.
I wouldn't consider Six Flags, Cedar Fair, and Sea World/Busch Gardens to be in the same market as Universal and Disney. The latter two cater to a more affluent crowd than the others.
I agree, and that's why this merger should not be allowed.
USA regulators seem to be deaf and blind!
Looks like bad news to me. Six Flags has a habit of driving all their parks to the ground, and then going bankrupt. Perhaps my view of Six Flags is outdated, but I don't imagine Six Flags' input bringing anything positive to the well-run Cedar Fair parks.
I hope Six Flags New England will be better with Cedar Fair operating it. It seems that Six Flags didn't care much about it.
This tells me that Busch Gardens/ sea world are kicking their asses lately! 🤣🤷🏻♂️
We are all hoping Cedar Fair is the one wearing the pants in this relationship, and helps out Six Flags become a better park
The first fail is keeping the six flags name. They should boot that to the curb.
Wouldn't think either will change names. Prob new logo with 6flags included.@@gwheelock911
Six flags proved that too many parks is unmanageable
They better not make
Six Flags Cedar Point
Or
Six Flags Canadas Wonderland
At least keep the names the same cuz cedar fair names are a lot cooler than freaking “Six flags over canada” or some crap
Yea, I was thinking the same thing
I could see more of a different style of name change ie. “Cedar Point - A Six Flags Park”
@@cwdefouw 🤮🤮🤮
The six flags name never deserves to even be in the same world as cedar point
This is like the amusement park equivalent of WWE UFC
Welcome to Six Flags Knott's Berry Farm? 🤔
Or Cedar Fair's Magic Mountain
love to see you wearing that shirt. haha
With Universal possibly buying Warner Bros, I wonder if they will pull all the Looney Tunes and DC characters from Six Flags and bring them into their own parks.
I wonder what this means for season passes and if they can be used interchangeably
i wonder if current passholders from either parks will get grandfathered to have access to the both parks instead of being forced to buy a new one.
@@LChinezeThat’s my question. Cause I have a SF pass and I’ve used it a few times already, so I got my money out of it. But I got it for a year and I’d kind of want at least a partial refund if I’m not grandfathered in.
I am afraid Six Flags will be the death knell. Six Flags ruined many parks, they ruined Geauga Lake Park in north east ohio which at the time was open over 120 years. And many others in the early 2000s. Hopefully I am wrong this time
Oh right six flags ruined geauga lake. As if cedar fair didn’t run that park into the ground
I more than agree with you on that point. My angle was Six Flags bought a successful upscale family park which worked in a very rural area for over a century and made a mega park where sustainability was impossible. then Cedar Fair which is its own bag of cats.@@subzerofromny735
Am I the only one excited about the thought of my all parks pass working at both Six Flags AND Cedar Fair parks?
I remember when they considered this back in 2019 but didn't go with the deal because the offer was too low. I was surprised to hear that they've considered doing it again and actually go with it this time. I said that this could've been a good thing for the two companies back then and I still think it will be today. There's a lot that Six Flags could learn from Cedar Fair such as better operations, better taking care of landscaping and cleanliness, and having all rides ready when the season begins.
Cedar fair is soooo well managed! Glad their in charge !😊
Wow six flags just merged with Knott's berry farm.
I just hope this means X2 will get the audio fixed...
You breezed over it, but regardless of how we feel about the results of the parks we need to keep in mind that this was done to weather an upcoming downturn in park attendance. I would rather see a Six Flags: Carowinds than to see Carowinds sold off to an investment group. That beings said, my hope is that we see Merlin and SeaWorld merger that help strengthen their finances.
And we need to see the parks south of Charlotte, NC open year around even if they adopt a Knoebels winter only ticket system.
Definitely shocking that it isn’t just talk. I hope it means improvements at SF parks.
Kinda reminds me of when Vince McMahon and Ric Flair became co owners in 2001
I like that the thumbnail for the press release article at 0:43 is maxx force, one of the shortest ride times for any roller coaster in general, which hopefully won't indicate how long this lasts as an idea or a company
Oh great...I expect the quality of Cedar Fair parks to be on a downward spiral....
Hopefully better maintence at Magic Mountain which doesn't do the best job. Maybe more paint and polish all around like Knotts and who knows better food too.
I personally am looking forward to hybrid IP rides like Charlie Brown: Carnival of Chaos or Batman:Soapbox Racers. Lots of fun possibilities. ;-)
In terms of park changes, I wonder if it means that they might speed up the closure of California's great america (I hope not) and yes I am hoping for a combo pass (and an investment in six flags most neglected park discovery kingdom)
I think La Ronde is the most neglected…
I hope CF handles operations because we all know how bad SF is with keeping the lines moving and the rides operating!
Cedar Fair execs will handle operating the parks under the more familiar Six Flags brand...
This is the strangest deal I have ever heard of. And I absolutely HATE this idea. I have so many questions:
1. It seems too much of a monopoly for other parks outside these two chains. How can smaller parks compete against such a behemoth?
2. Crossover maybe not now, but what about down the road? I don’t want to see superheroes at Knott’s. Conversely I would not want another Camp Snoopy at Magic Mountain either.
3. Will Cedar Fair parks start using Intamin and RMC now? Or will Six Flags STOP using Intamin and RMC?
4. Will Six Flags Great Adventure lose their parachute tower in the way Knott’s did? And what will happen to Kingda Ka? Top Thrill Dragster treatment? And will other parks in Cedar Fair chain now get a new Vekoma coaster like Great Adventure is getting?
5. Will Six Flags operations be improved? Will abandoned things like Magic Mountain’s observation tower get opened or removed?
6. Will prices go up?
7. Will Halloween events get better at Six Flags, or worse at Cedar Fair, especially Knott’s?
8. Will this supposed money saving results transfer into MORE rides being built because they have more money? OR will LESS rides be built because they have less competition and are spread too thin?
There is a fear of an upcoming downturn in the economy and this will help both of them weather it
Low performing parks may shut down. Most companies streamline after a merger.
Or parks too close to one another. No point in competing with yourself.
it's so weird that the six flags name will be used for me it seems like it has a way worse reputation than cedar fair (same btw for qiddiya they are actively paying to use the six flags name why tf?)
I feel the same way.
Will they call their holiday event Winterfest or Holiday in the Park?
The only investmemts we are going to see is to the pockets of the CEO and shareholders
I work at a park that doesnt have the six flags stuff so im interested to see if they bring in any IP's from DC to the parks and in what way they might do that...as so many of the parks have historical stuff goin on...
im worried about knotts D:
If this merger happens while Cedar Fair still has the defunct California's Great America's assets, I could see Cedar Fair loaning many of those park assets to their sister park in Gurnee, Illinois...
Yet I see a monopoly issue... Ending up as a bad for Knotts... But does explain why Knotts roller coasters basicly stopped building...
I hate it! Kings Island is my home park and I’m a pass holder 😭
i would be interested to see if the merger gets past the federal government. I know they have competition in Disney and universal but I feel this has to get through a lot of red tape with monopoly laws
I doubt it will
After what both companies did to Geauga Lake, I have to say am extremely nervous... 😬
I know it was rumored that CF was taking it HQ to Charlotte. Close to Carowinds. But nothing came of it.
I wonder if this means Six Flags parks will start installing Gerstlauer again
Sounds like the Chuck E. Cheese and Showbiz Pizza Place merger, Showbiz kept the CEC name.
They came I’m back in 2000 and wiped out two parks. They sat rotting away until big corporate housing made the land into developments
I just bought a national wide pass and nationwide fast pass for six flags. Any idea if that will get me anything for Cedar Fair. Certainly they can't take anything away for my six flags stuff right?
get ready for some six flag closures. The ones they keep will be magic mountain, fiesta texas, great adventure, maybe 2 more after those what u think?
I wonder if we’ll see prices coming up closer to Disney parks level (maybe like 80% of Disney park prices).
How does this POSSIBLY save $200 million? Lol that is an insanely bloated figure. This is all to sell stock by generating buzz. What does this mean for SF Quiddya? And will CF’s park’s names change to Six Flags: Cedar Point, or Six Flags: Carowinds, etc etc… this is dumb. A dumb move for both. This will close at least half a dozen large parks. A very sad day for the industry, bye bye coaster competition…
SF Quiddya just licenses the name, the project itself has no relationship with SF beyond that
Competition breeds quality and innovation. This isn't good.
Cedar Flags is here
better not pt six flags infront of cedar fair parks and knotts
Long term I fully expect park closures and higher pricing
Just wondering what will become of worlds of fun, my home park.
I dont how to feel about this. I never been to a six flags park
I would imagine the idea of “gum walls” will STICK around! Gross
Will my diamond sf membership now work at cp
I’m hoping it’s a good thing. My home park is mostly neglected by Cedar Fair and more love and investment by cedar fair would be amazing for Worlds of Fun.
But if I could use my all park add on Six flags St Louis, that’s be cool 😎
This don't sound like a dud to me, i think this merger deal will be a good thing
IDk if I mist anything but is the forever
Imagine this Six Flags Cedar Point😮
maybe they could actually invest in six flags stl finally
merlin is going up and cedar fair is about o go down
Maybe this will save Great America in Santa Clara
You play rocket league? Let's play?
Lordt...please maintain identities.
This is a terrible idea. Get ready for prices to go up.
Does this mean sfgam could actually have a shot at something expensive and world class like rmc eagle, a giga, or trex? I feel like we need something like that since it has been five/six years with nothing.
praying
@@zcoastertheobbiest65 is that a ye or ne
@@Verdelite ye
Better Knott see any of those stupid capes or poop hats at my park
So regarding the new headquarters, according to Cedar Fair’s website their headquarters is listed as Charlotte, so technically they are keeping the CF headquarters as the new company HQ. I think it did mention some operations will also be out of Sandusky
So basically so ppl jobs will be cut
@@crystaljewel1073 unfortunately yes :(