So to put things into perspective, someone made a Six Flags and Cedar Fair Merger Map.
Red = Six Flags
Blue = Cedar Fair
Red = Six Flags
Blue = Cedar Fair
That's all great and good when money is cheap and easy to get. That's no the case anymore. It's expensive, if you can get it in a tightening credit market as banks are stressed as is.I hope it works out but....I'm not a fan of mergers at this point.
I think we need to be shrinking companies not combining more
The system is suppose to beThat's all great and good when money is cheap and easy to get. That's no the case anymore. It's expensive, if you can get it in a tightening credit market as banks are stressed as is.
I can definitely see some parks in both chains getting sold off, in order to reduce antitrust. Wonder if Paramount Global can acquire some of those parks? I bet they'd love to get back into the theme park business.So to put things into perspective, someone made a Six Flags and Cedar Fair Merger Map.
Red = Six Flags
Blue = Cedar Fair
So, basically Cedar Fair is running it all post merger, with just one Six Flags top level person as Chief Integration Officer, a role which most likely just a limited time.As previously announced, upon closing of the transaction, Richard Zimmerman, President and Chief Executive Officer of Cedar Fair, will serve as President and Chief Executive Officer of the combined company and Selim Bassoul, President and Chief Executive Officer of Six Flags, will serve as Executive Chairman of the combined company’s Board of Directors.
After completion of the Mergers, the following leaders will report to Zimmerman in the combined company:
“We are fortunate to have a proven team of leaders who bring decades of park operating experience and significant expertise in integrating businesses and achieving synergy targets for the combined company,” said Zimmerman. “Their insights and complementary skill sets will be instrumental as we combine two of North America’s iconic amusement park companies and forge a new future together.”
- Tim Fisher, Chief Operating Officer (currently in same position at Cedar Fair)
- Brian Witherow, Chief Financial Officer (currently in same position at Cedar Fair)
- Brian Nurse, Chief Legal & Compliance Officer, and Corporate Secretary (currently in same position at Cedar Fair)
- Christian Dieckmann, Chief Strategy Officer (currently in same position at Cedar Fair)
- Gary Mick, Chief Integration Officer (currently Executive Vice President and Chief Financial Officer at Six Flags)
Cedar Fair and Six Flags Announce Senior Management Team That Will Lead Combined Company Following Completion of Planned Merger of Equals
SANDUSKY, Ohio & ARLINGTON, Texas--(BUSINESS WIRE)-- Cedar Fair, L.P. (NYSE: FUN) (“Cedar Fair”) and Six Flags Entertainment Corporation (NYSE: SIX) (“Six Flags”), today announced the senior management team that will lead the combined company following the completion of their previously...investors.sixflags.com
So, basically Cedar Fair is running it all post merger, with just one Six Flags top level person as Chief Integration Officer, a role which most likely just a limited time.
They've seen them long ago as part of the due diligence.I wish I could be a fly on the wall as the Cedar Fair guys take a look at the Six Flags books for the first time. Yep guys, you’ve got your work cut out for you.
This would be a terrible idea. Most people don't know they are merged so they should us that to their advantage. Wait until you can get all your park more uniformed. However the most important reason to not do that is that ot sets a precedent for the customer that the new mega pass should be the same price as before. The higher price will hurt but if you can announce it with the price they want and to be able to say now with access to X amount of new parks, that would allow them to justify the price hike.If the past is any indication, for the rest of this year they may honor existing passes sold by Six Flags and Cedar Fair between the brands. That would be a good will gesture to their passholders as they brace them for the upgrade at a higher price next year, and also bring in much needed turnstile clicks and revenues with people visiting parks they weren't able to before.