News: CBS Corporation to divest Paramount Parks

http://www.pointbuzz.com/news.htm?id=816

Is it possible for Cedar Fair to own and operate all of the major theme parks in Ohio? They are already 2/3 of the way there.

Is CBS selling the parks individually, or all together as a lump purchase? I don't think Cedar Fair is in a financial position to purchase more than one and certainly not all five.

Honestly, I don't really want that to happen. Competition is good for us. If CP has no competition, they have no incentive to build rides and treat the customer well. Things have already deteriorated far enough for me over the past few years. I can't see CP owning PKI as a good thing for fans of either park. Good for the company, maybe, but in the long run, it would make both parks less spectacular.

If I were CF, I'd be looking hard at PKD in Virginia. That park has quite a few positive things going for it including a decent coaster collection, a great drop ride, a huge population within a couple hours drive, a location along one of the country's busier highways, a warmer climate, and slightly longer season. It's also not right on top of any existing CF park and would give them a new area of representation.

If I were an investor if CF, I'd be giddy at the prospect of this happening. Seems like a good fit.

MrScott

As a guest...I agree with Matt.

MrScott

Dominion is indeed a great park, and I would have to agree that it would be a good purchase for CF....

I agree with the whole concept of no competition can be a bad thing. But looking at all the the Paramount Parks, I think Carowinds would be an interesting buy for CF. It's not really close to any of their other parks, which allows for them to expand their market.

i wonder if, when sold, will kings island have to change the names of movie themed rides like top gun, drop zone, congo falls, face off and ijst. perhaps their new nick universe kids area would also face the same fate.

It's been said on Coasterbuzz that when the parks get sold, the licensing for those names will probably be part of the package.

Wouldn't CF have most of the parks on the east coast, and have more parks that would be open year round? If so, wouldn't that be good for the stock holders?

-Chris

Gomez said:
I agree with the whole concept of no competition can be a bad thing.

But even if CF owned and operated every park in Ohio (as an example) they are still competing with zoos, movie theaters, ballparks, and every other entertainment venue for the consumers dollar. If they don't keep things new and fresh, eventually people will start picking those other places over an amusement park.

from being down here in Cincinnati, the only good things that could come from Cedar Fair buying Kings Island is 1) my season pass could work a both parks, and 2) maybe the park can go back to the way it was, before everything had a tie to Paramount.

i wonder what this means for the newly themed Fairl Odd Parents ride (formerly the Beastie)

IF Cedar Fair were to buy the PK parks (specifically PKI), they would potentially be giving the under-construction Great Wolf Lodge a pretty good first step. Especially seeing as how Castaway Bay was a venture for the residents of Sandusky to get away from the other Great Wolf Lodge. Makes me curious as to how that will factor in to their plans.

Castaway Bay Part Deux.

MDOmnis said:
Honestly, I don't really want that to happen. Competition is good for us. If CP has no competition, they have no incentive to build rides and treat the customer well.

I think you have too narrow a view of "competition." They don't have any direct park-to-park competition to speak of, and the numbers slide anyway. If you don't show people a good time, they'll spend their money on other things like movies, museums, FEC's and pro sports events. Not only that, but for the most part none of the CF parks directly compete with a Paramount Park, except perhaps CP and PKI, and even then that's only really in the Columbus market.

I say grow the company.