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Paramount Parks to be Divested


The Interpreter
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I am going to tell you what my guess is - and it's 100% off speculation. I don't know anything more than anyone else.

Come on...you mean you're not working those contacts you made while researching & writing the book? biggrin.gif

If I had that much influence over Paramount Parks, I would've been the one hired as the Newsletter Writer/Editor. Though I was a finalist, someone else beat me. sad.gif

Having an MBA, being the author of the only non-fiction book written about a Paramount park, a freelance writer, a former public access TV producer/scirpt writer, and corporate bank employee was not enough. sad.gif

Fortunately, I still have my day job that pays me more than they would have anyway. Still, it would've been so cool if I gotten the job.

Have a great day!

Italian Chef

chef.gif

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...had no idea where to put this, and I was too lazy to make a new topic about it.

Apparently some guy on the PKD forums got a confirmation from the park officials that Kings Dominion's Flight of Fear is R.I.P., and is supposedly being moved over to PCW next year.

The post:

RIP FOF. I had it confirmed today by top park officials that the FOF has been taken down. Dont know if its in the building still or not but it will be going to PCW for a new ride in 2007. It will be an outside ride. The FOF building was not made clear of its future. It could be used for a ride in the future or just torn down. Belive me if you like but [some random kid] was right.

....this coming from a guy with only 10 posts and had just joined four days ago. So I wouldn't believe it until Screamscape makes it official and gets everyone into a big-assed flame war. tongue.gif

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  • 4 weeks later...

BTW.. I love this website.. lol I was speaking with someone at the Corporate office that I knew for a good amount of time, and she was telling me that Paramount Parks would be making an accouncement sometime in late summer (more specifically late July) as to the future of the parks. I asked Maureen about in an email this past week, she didnt comment, but did say that they are entertaining possible buyers. I have noticed on the websites that they slowly are starting to "stamp out" some of the Paramount names, such as with the logo for Boomerang Bay. I agree with one poster, who said that we will most certainly see gradual changes over the season. For me, its sad. I used to work for them at the office in NC and they had such hopeful plans. I think selling is a bad move, but thats just me. LOL

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I heard a slightly different time frame for an anouncement of the new buyer of the parks. One which would definantely support possible changes at the parks throughout the summer.

New logo for Boomerang Bay? Did I miss something? The only think that I know that has changed is the Mission Impossible Stunt Show up at Canada`s Wonderland, and from what I have heard, that has more to do with the possible script of the stunt show, than the actual issues with a change in ownership. What other things are they starting to "stamp out" on their website? And of course, Maureen will give the standard response of they are entertaining offers from potential buyers. That is probably about all she knows about the sale of the parks, or at least all she can comment on.

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It wasnt anything major. Just noticed that that phrase "Crocodile Dundee" has been removed from the logo. I noticed this when Paramount's Carowinds announced their expansion. Also, in the Sept 21 release, Paramounts Carowinds never mentioned "Crocodile Dundee" in any of their logos, concept art, or news release itself. Also, Paramount's Great America has "stamped out" the name from thier website. I think this is the start of name/theme changes to come.

My source was more than reliable about buyout, but it is also to my understanding that Paramount Parks are keeping the bulk of the employees in the dark about things, until they are made official. Something "may" officially happen before late summer as you say, but an announcement is expected later in the summer, according to what I have been informed. However, I am sure things could change timeframe wise. Maureen says that they are "entertaining offers" and in all fairness I think this is something she may not even know definately.

Course, never underestimate Maureen! She is a God-sent!

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The same thing has happened with our version of Boomerang Bay-the Crocodile Dundee name reference has been completely taken off on the website.

http://www1.paramountparks.com/kingsisland

Just go to "Rides and Attractions" and you'll see what I mean when Crocodile Dundee has been taken out from the Boomerang Bay logo.

Could this also mean some of the other attractions could be having parts of its name taken out? Bcause it would be really awkward at Canada's Wonderland to have both a Hollywood Stunt Spectacular AND a Hollywood Stunt Track. unsure.gif

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They can only go so far with removing names, before it becomes pointless, as in the example above. There might be something to Crocodile Dundee being dropped from the name of the Boomerang Bay`s and the Mission Impossible Stunt show. Then again, it could simply be mere coincidence.

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They can only go so far with removing names, before it becomes pointless, as in the example above. There might be something to Crocodile Dundee being dropped from the name of the Boomerang Bay`s and the Mission Impossible Stunt show. Then again, it could simply be merely coincidence.

Ahhh, my good man. You should know that there is no such thing as mere coincidence.

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I don't know but I'm actually excited about that news.

I think that if we get the parks into the hands of a group that is less concerned about fads of the moment and concentrating on things that will remain timeless into the future; we will all benefit.

This seems plausable....think of the great rides at some of the more independent parks...

And when it comes time for new rides, instead of added a water park, a new statue of SpongeBob, or introducing new pink plastic cups with Dora on them....there may be actual long term rides added.

That'd be sweet.

I know I'd like to see Carolina fianlly get a giga coaster.

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Yes, it does take a while. But, look how long they have had the parks on the market with interested buyers. As far as we know, they may have already been sold and are finalizing the terms of the deal. I just have a gut feeling that before the end of the regular season in August, we will have at least a little more information on the ownership of the parks. But it could end up taking longer, who knows!

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The parks have not been sold, yet. They hope to complete the sale sometime in June. There are sale presentations going on currently. They will have initial bids done in April, final bids in May and June. Sale is hopefully done end of June. That's what I know.

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Just to clear things up, Crocodile Dundee's has never been in that logo on the website. I believe the one in the media center was the only one to have it, and I think that was only for a short time in 2004.

Anyone else notice that IJST is completely missing from the attractions pages?

BUT... right on the front page, under the "Rides and Attractions tab," a picture of the IJST splashdown is prominently shown. Maybe they justr haven't added it to either the category of Thrill Rides or Family Rides (where Adventure Express is located).

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If the parks are sold they will have to show it in the financial reports. The reports of things that happened in q1 will be out about the time everyone thinks they will be sold. This is about the time 07 season passes will be sold. The timing of it all makes me think it's a done deal.

I don't know how they do it but I would guess the end of the 06 season on paper is when the 07 passes go on sale. I don't know it's just a guess. This would be the best time for a new owner to take over.

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You never said anything we haven't heard so there is nothing to hurt your feelings about.

you stated, just above, that the parks, in your opinion, were sold, which, I can tell you that they are not. Like I said, believe whomever you'd like, your call. I know what I know and someday you'll know what I know.

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I would bet any sum of money that there are fewer than 50 people who know the details of what is going on with this sale. The ones who do are lawyers, board members of any acquiring company, investment bankers and government regulators. I would be shocked if ANY of them reads this board. I would be even more shocked, as would the Securities and Exchange Commission, if any of them posts anything about the sale here. Doing so would be a serious violation of the disclosure portions of securities law. Not something to be sneezed at.

Ask Martha.

Martha who?

Stewart.

Then again, they didn't get her for violating securities law...they got her for lying to the FBI when they came to call to ask her about alleged violations!

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I would bet any sum of money that there are fewer than 50 people who know the details of what is going on with this sale. The ones who do are lawyers, board members of any acquiring company, investment bankers and government regulators. I would be shocked if ANY of them reads this board. I would be even more shocked, as would the Securities and Exchange Commission, if any of them posts anything about the sale here. Doing so would be a serious violation of the disclosure portions of securities law. Not something to be sneezed at.

Ask Martha.

Martha who?

Stewart.

Then again, they didn't get her for violating securities law...they got her for lying to the FBI when they came to call to ask her about alleged violations!

Oh, I'd say considerably fewer than 50 people would know.

I would venture to say that the GM's at each park likely do not know the dealings.

I'm certain that it is only certain Attorney's and Parlegals in the legal departments for Paramount and the prospective buyers.

That's just the way it's done.

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You never said anything we haven't heard so there is nothing to hurt your feelings about.

you stated, just above, that the parks, in your opinion, were sold, which, I can tell you that they are not. Like I said, believe whomever you'd like, your call. I know what I know and someday you'll know what I know.

It was just my opinion. It's what I think and do not know.

You are not posting anything for anyone to believe or not. No one has said they was sold and you are saying the same that they are not.

I think it would be hard to say when they would be sold if they didn't have the buyer.

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My guess, and it is purely that, is that the parks have either a potential buyer lined up, or a couple of buyers, as cewldre stated. And I agree, that very few people outside the negotiations will know what is going on. That being said, it is unlikely that anyone at PKI from the top to the bottom know any inside information on the sale of the parks. That being said, I would imagine that the CEO of Paramount Parks, as well as the CEO of any potential buying company know about the negotiations.

That being said, if the parks are to be bought by a public company, such as Cedar Fair, there would have to be a vote of the shareholders to approve the deal. If that happens, then we will know something before the sale is completed. Otherwise, we likely won`t hear anything until the deal is done, signed sealed and delivered.

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