Six Flags and Knott's Berry Farm Owner Cedar Fair Complete Merger

The combined company, Six Flags Entertainment Corporation, operates 27 theme parks, including Knott's Berry Farm and Six Flags Magic Mountain.

By Cameron Bonomolo

Mr. Six has another reason to dance. Six Flags and Cedar Fair announced that a merger valued at approximately $8 billion was completed on Monday, July 1st. The combined company, Six Flags Entertainment Corporation, is North America's largest regional amusement-resort operator with 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada and Mexico, including Six Flags Magic Mountain and Knott's Berry Farm in California and Cedar Point in Ohio.

Six Flags Entertainment Corporation also stated that each park in the combined company's portfolio will "retain their legacy branding with no changes to park names currently being planned or contemplated." That includes the Buena Park-based Knott's, which has been in operation since 1920.

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"Today marks a significant milestone for our company, shareholders, guests and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences," said Richard Zimmerman, president and chief executive officer of Six Flags Entertainment Corporation. "Our merger establishes a new Six Flags Entertainment Corporation with a highly diversified footprint and robust operating model, enhancing park offerings and performance though the complementary portfolio of attractive assets and intellectual property from each of Cedar Fair and the former Six Flags. The combination also enhances the financial profile of the company 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."

With the merger complete, the former Cedar Fair (NYSE: FUN) and Six Flags Entertainment Corp. (NYSE: SIX) will start trading on the NYSE under the ticker symbol "FUN" beginning Tuesday, July 2nd. The merger agreement, which was first announced in November 2023, would see the two companies combine to form "a leading amusement park operator in the highly competitive leisure space with an expanded and diversified footprint, a more robust operating model and a strong revenue and cash flow generation profile."

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"We believe that by combining the best ideas and most successful entertainment practices of both Six Flags and Cedar Fair, the new Six Flags can deliver a superior level of joy and excitement that has yet to be experienced by regional park guests," added Selim Bassoul, executive chairman of the board of directors of Six Flags Entertainment Corporation. "We are excited to unite the Cedar Fair and Six Flags teams to capitalize on the tremendous growth opportunities and operational efficiencies of our more extensive entertainment portfolio."

According to a press release, the combined company will use its previously-acquired IPs to "develop engaging new attractions enabled by compelling characters, environments, and storytelling." Six Flags has long had the rights to Warner Bros. Discovery properties like Looney Tunes and DC Comics with themed areas and popular attractions inspired by such characters as Bugs Bunny and Batman, while Cedar Fair has utilized the Peanuts characters for its Camp Snoopy and Planet Snoopy lands.

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