Jump to content

Is Cedar Fair wanting to buy PKI?


The-Snapper
 Share

Recommended Posts

  Reality15 said:
Ryan, yes, they are perfectly capable of purchasing the ENTIRE Paramount chain. Believe it or not, Cedar Fair has more money than you think. That's why they were able to purchase parks such as Michigan's Adventure and Geauga Lake, because they have a- savings account, if you want to call it that- full of money in case a good opportunity arises where they would be put in a situation to buy a park. Not only that, but if they're short there is this thing out there called a loan. Many chains do this when buying a park, they pay as much as they can and take out a loan.

As I said, you have to take a risk in order to make money, and this is one risk I personally know that Cedar Fair would be willing to take. And if you're telling me it wouldn't be a smart risk, I'd like you to explain your reasoning because you're sounding like a d*** fool.

Sorry to qoute the whole post but I just wanted to point out that apparently we have Cedar Fair's accountant as an active member of the PKIC community....It's best to know what your talking about before you go making yourself look like an idiot.

Link to comment
Share on other sites

Not trying to start something here but come on everyone. It seems like everyone wants to be seen as an expert on here. If there is a member on here from CF then that’s fine, prove it. But no one has any idea who the parks are going to be sold to if at all.

Link to comment
Share on other sites

How do you know I'm not a Cedar Fair employee? Are you positive that I have no direct relation to Cedar Fair? You have no proof that I am or am not a Cedar Fair employee, all I can say is that Cedar Fair is willing to take that risk, mostly because it will pay off in the end.

Don't believe me all you want, but last time I checked I was able to air my "opinion" on the forums.

Link to comment
Share on other sites

"Sorry to qoute the whole post but I just wanted to point out that apparently we have Cedar Fair's accountant as an active member of the PKIC community"

Funny Stuff!

laugh.gif

Not to mention that Cedar Fair would have to view this purchase as something that will create a ROI. CF does not have the money Viacom has and if CF were to purchase PKI and its' properties, there would still need to be money there for capital expenditures.

Link to comment
Share on other sites

  Reality15 said:
How do you know I'm not a Cedar Fair employee? Are you positive that I have no direct relation to Cedar Fair? You have no proof that I am or am not a Cedar Fair employee, all I can say is that Cedar Fair is willing to take that risk, mostly because it will pay off in the end.

Don't believe me all you want, but last time I checked I was able to air my "opinion" on the forums.

Sure you maybe a Cedar Fair EMPLOYEE but nothing other than seasonal work because no self respecting full timer in a Cedar Fair park would post on an unofficial PKI website..

Your opinion eh??Qouted from an earlier post:

"That's why they were able to purchase parks such as Michigan's Adventure and Geauga Lake, because they have a- savings account, if you want to call it that- full of money in case a good opportunity arises where they would be put in a situation to buy a park. Not only that, but if they're short there is this thing out there called a loan."

I don't see any opinion in that. Like I said earlier, sounds to me like your the self imposed Cedar Fair Accountant. Outside of stocks and such, a multi million dollar companies finances are the knowledge of corporate execs, and your not one of them.

Link to comment
Share on other sites

Yet you still offer no proof that I'm not a year-round Cedar Fair employee. All you have to go on is your idea that "Cedar Fair employees don't post at an unofficial PKI site". That's extremely false. Parks sometimes go to the unofficial park and coaster sites to see what the buzz is in the community, and that's where they get a few of their ideas.

So far, you cannot prove that I am wrong, and all I ask is that before drawing any conclusions that Cedar Fair will not purchase one or all of the Paramount chain to wait and see if, first they're selling the parks, and second, purchase deals are struck up.

Link to comment
Share on other sites

I believe that Cedar Fair may not be able to afford the cost that Viacom wants. I don`t think it would be necessarily a bad thing if Cedar Fair bought the parks, but I would imagine we would see less heavily themed rides. I really don`t see Cedar Fair buying the parks. I think the most likely buyer as I have said before is the former Viacom executive.

Yes, I think by the end of the 2005 operating season, I think PKI and Paramount Parks will no longer be directly owned by Viacom.

Link to comment
Share on other sites

Why would the prices go up if CF buys King's Island? Look at what they did with GL. Gate prices went down.

Do you think they would change the name back to King's Island or Cedar Fair's King's Island.

Link to comment
Share on other sites

I got this e-mail a few minutes ago. Has anybody else heard about all of this?

A team led by a former top Viacom executive has quietly approached

the media giant about buying its Paramount Parks unit, The Post has

learned.

Tom McGrath, who stepped down as head of Viacom Inc.'s Paramount

Enterprises last summer, has lined up investment firms Spectrum

Equity Partners and GS Capital Partners, Goldman Sachs' private

equity arm, to back him in his efforts to acquire the theme parks

business, sources familiar with the situation said.

As president of Paramount Enterprises and executive vice president

of Viacom Entertainment Group, McGrath oversaw Viacom's theme parks,

movie theater and music publishing businesses.

The group expressed its interest to Viacom earlier this year in an

attempt to preempt an auction of Paramount Parks, which is expected

within the next few months.

Sources say the division  which has amusement parks in North

Carolina, Ohio, California and Virginia as well as Canada  could

fetch $900 million to $1 billion. Viacom has told bankers that in

the next few weeks it plans to begin formally interviewing Wall

Street firms to advise on the sale of the unit.

However, one source close to the situation said the firm is expected

to retain Citigroup to handle the process.

However, yesterday, Viacom co-president Tom Freston said in an

earnings conference call that the company is in the "early stages of

looking at potential opportunities" for Paramount Parks, which is

viewed as a noncore asset.

A Viacom spokesman would not comment further. McGrath did not return

a call seeking comment.

Besides the McGrath-led team, other potential buyers for the

division include amusement park operators Cedar Fair, L.P. and

Universal Parks, which is partly owned by NBC Universal and

Blackstone Group, as well as other private equity firms. Six Flags

and Busch Entertainment Corp., a subsidiary of brewer Anheuser-

Busch, are also viewed as possible but less likely buyers.

Viacom is putting its theme parks business on the block in what

would be the latest in a string of asset sales at the media empire

as it re-evaluates its strategy.

As The Post reported in October, Viacom is screening its options for

its Famous Players Canadian movie theater chain.

The company is in the early stages of an auction, which has already

attracted the interest of more than a dozen bidders, sources say.

Link to comment
Share on other sites

  PKIBeast said:
Well, according to PKIfan73, Cedar Fair is apparently in the running as well. So, it is not as far fetched as some here would believe.

And family man, you're still not funny or moderately amusing.

Hmm, isn't that what I've been saying all along? It's not unlikely that Cedar Fair could buy the park and/or chain. It's really not that unlikely even though people make it out to be.

Link to comment
Share on other sites

  Reality15 said:
  PKIBeast said:
Well, according to PKIfan73, Cedar Fair is apparently in the running as well. So, it is not as far fetched as some here would believe.

And family man, you're still not funny or moderately amusing.

Hmm, isn't that what I've been saying all along? It's not unlikely that Cedar Fair could buy the park and/or chain. It's really not that unlikely even though people make it out to be.

Ummmmm ok, and you are... It's a message board. Get a life.

Link to comment
Share on other sites

  familyman said:
  Reality15 said:
  PKIBeast said:
Well, according to PKIfan73, Cedar Fair is apparently in the running as well. So, it is not as far fetched as some here would believe.

And family man, you're still not funny or moderately amusing.

Hmm, isn't that what I've been saying all along? It's not unlikely that Cedar Fair could buy the park and/or chain. It's really not that unlikely even though people make it out to be.

Ummmmm ok, and you are... It's a message board. Get a life.

I'm obviously not as immature as you have been. dry.gif

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...