- May 22nd, 2006, 10:03 am
#17318
<a href='http://www.cedarfair.com/ir/press_releases/index.cfm?current_root=15&mode=story&story_id=69' target='_blank'>http://www.cedarfair.com/ir/press_releases...ory&story_id=69</a>
It is official. Paramount's Carowinds is now under the same management as Cedar Point, Knott's Berry Farm, Dorney Park, Valleyfair, Worlds of Fun, Geagua Lake, and Michigan's Adventure.
Slideshow from the investors conference call: <a href='http://www.cedarfair.com/_upload/cedar%20fair%20investor%20presentation%20web.pdf' target='_blank'>http://www.cedarfair.com/_upload/cedar%20f...ation%20web.pdf</a>
Some interesting information from the investors conference call:
-They intend to keep all 5 Paramount Parks operational
-After this, it is unlikely that they will purchase any of the Six Flags parks that are for sale
-The Nickelodeon license extends for 3 more years and they have the option to extend it to the existing Cedar Fair parks
-Management issues for the individual parks have yet to be addressed (or at least made public...)
-Paramount contracts are being reviewed in regards to the movie and television licensing. No word yet on whether they will have to retheme or not.
-The Star Trek Experience in Las Vegas is included in the deal
-There are 939 acres of undeveloped land between the Paramount Parks that can be used for expansion (80 acres at Canada's Wonderland and several hundred at Kings Island; no specifics given on the other 3 parks)
-hotels may be considered (similar to how Cedar Point has Breakers, Breakers Express, etc)
And from the media conference call:
-Paramount and Nickelodeon are separate contracts. The Nickelodeon contract has been extended as mentioned above, but there is no decision yet on Paramount. From what I gather, it looks like they will be dropping that, and it was inferred that all parks will drop the Paramount name.
-They will likely work out a season pass good at all 12 parks.
-No changes to any of the parks for this year as the season has already started
-They will re-evaluate pricing at the new parks.
-"Most experts feel The Beast is the best wooden coaster in the United States"
-The lease for the Paramount Parks corporate headquarters in Charlotte expires at the end of this summer.
-The deal includes the lease with Bonfante Gardens.
-The new Cedar Point coaster (errr.. mystery attraction) will be announced in late August.
-They have no plans for national promotions and agreements (IE: the Six Flags Home Depot agreement).
-500 acres for development at Kings Dominion and "a few acres at Carowinds"
-no significant pre-existing ride deals for the 5 Paramount Parks (IE: when Cedar Fair bought Knott's Berry Farm, they had already signed a $20 million deal for Ghostrider).
-4 more years on the Nickelodeon contract (they said 3 during the 11 AM conference)
-the Paramount license runs for an additional 10 years, but there is a buyout clause that they may option after this season
It is official. Paramount's Carowinds is now under the same management as Cedar Point, Knott's Berry Farm, Dorney Park, Valleyfair, Worlds of Fun, Geagua Lake, and Michigan's Adventure.
Slideshow from the investors conference call: <a href='http://www.cedarfair.com/_upload/cedar%20fair%20investor%20presentation%20web.pdf' target='_blank'>http://www.cedarfair.com/_upload/cedar%20f...ation%20web.pdf</a>
Some interesting information from the investors conference call:
-They intend to keep all 5 Paramount Parks operational
-After this, it is unlikely that they will purchase any of the Six Flags parks that are for sale
-The Nickelodeon license extends for 3 more years and they have the option to extend it to the existing Cedar Fair parks
-Management issues for the individual parks have yet to be addressed (or at least made public...)
-Paramount contracts are being reviewed in regards to the movie and television licensing. No word yet on whether they will have to retheme or not.
-The Star Trek Experience in Las Vegas is included in the deal
-There are 939 acres of undeveloped land between the Paramount Parks that can be used for expansion (80 acres at Canada's Wonderland and several hundred at Kings Island; no specifics given on the other 3 parks)
-hotels may be considered (similar to how Cedar Point has Breakers, Breakers Express, etc)
And from the media conference call:
-Paramount and Nickelodeon are separate contracts. The Nickelodeon contract has been extended as mentioned above, but there is no decision yet on Paramount. From what I gather, it looks like they will be dropping that, and it was inferred that all parks will drop the Paramount name.
-They will likely work out a season pass good at all 12 parks.
-No changes to any of the parks for this year as the season has already started
-They will re-evaluate pricing at the new parks.
-"Most experts feel The Beast is the best wooden coaster in the United States"
-The lease for the Paramount Parks corporate headquarters in Charlotte expires at the end of this summer.
-The deal includes the lease with Bonfante Gardens.
-The new Cedar Point coaster (errr.. mystery attraction) will be announced in late August.
-They have no plans for national promotions and agreements (IE: the Six Flags Home Depot agreement).
-500 acres for development at Kings Dominion and "a few acres at Carowinds"
-no significant pre-existing ride deals for the 5 Paramount Parks (IE: when Cedar Fair bought Knott's Berry Farm, they had already signed a $20 million deal for Ghostrider).
-4 more years on the Nickelodeon contract (they said 3 during the 11 AM conference)
-the Paramount license runs for an additional 10 years, but there is a buyout clause that they may option after this season
