In a deal that has shaken up the U.S. theme parks business, Six Flags and Cedar Fair have agreed to merge, creating $8 billion worth of parks that the companies hope can better compete with parks from the likes of Walt Disney Co. Comcast’s NBC Universal.
The all-stock deal will combine the two companies’ portfolios to create a behemoth with 27 theme parks, 15 water parks, 9 hotels and resorts and safaris, marinas and other properties across the United States, Canada and Mexico.
Notably, the two companies highlighted how combining their licensed IP portfolios could help create “engaging new spaces”.
Six Flags has signed a deal with DC Comics and Warner Bros. Discovery for the rights to the characters. Looney TunesWhile Cedar Fair holds the rights Peanuts Comedy universe.
The merger comes amid a theme park boom, with both Disney and NBCUniversal seeing huge growth and profitability in their theme park portfolios.
As both NBCUniversal and Disney expand their respective theme parks lines of business, Disney is spending $60 billion to grow its theme parks in California, Florida and around the world, and Universal is building a new theme park in Texas. Halloween Horror Nights attraction in Las Vegas.
Cedar Fair and Six Flags agreed in their merger agreement that the merger would result in greater geographic diversity, and that parks in Florida, California and other parts of the South would remain open year-round, even if parks in the Northeast and Northeast had to close. Midwest in winter.
The combined company will operate under the Six Flags name and trade under the ticker symbol FUN.
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