WooferBearATL Posted February 7, 2006 Share Posted February 7, 2006 Yeah, my ex used to work with Federated in the legal department. He was never able to expose to even me what types of deals that they were working on. He knew years ago about the name change to Macy's and numerous other take overs. That is information that just does not get out. Quote Link to comment Share on other sites More sharing options...
jzarley Posted February 7, 2006 Share Posted February 7, 2006 And ANY deal can fall through up until the time ownership is actually transferred and the funds change hands. Happens all too often. I can also about assure you that NO ONE other than a handful of people, at MOST, knows who the buyer is. Certainly not someone who reappears on this board and doesn't even know what happened to Jeff Seibert (and asked in another thread) Yeah, I thought the same thing Plus, it's a lot easier to believe someone is in Les Moonves' rolodex when they know the difference between the words "and" and "an." Quote Link to comment Share on other sites More sharing options...
crazypkikid2005 Posted February 8, 2006 Share Posted February 8, 2006 thats really funny Quote Link to comment Share on other sites More sharing options...
DA RIPPER Posted February 8, 2006 Share Posted February 8, 2006 Sorry but I'm not trying to start that at all . I'm just letting everybody know It's not and investment group that's buying PKI and don't worry about it being resold soon after the deal is done. and entertainment group is buying PKI, make it what you want. .....I coulda sworn someone said that it would be an investment frim that would be buying the parks. And what's he mean by "entertainment group?" Don't tell me it's Cedar Fair. I'd much rather it be Busch Gardens/Sea World that bought us. What I mean by entertaiment group is they are in the same line of business as PKI, So the parks not going to be turned around and resold for a profit like a investment group would do. just remember new owers are going to make changes. It's the nature of The Beast all things change. Quote Link to comment Share on other sites More sharing options...
Shaggy Posted February 8, 2006 Share Posted February 8, 2006 Here's my guesses about the future of PKI... remember they are my GUESSES... - I highly doubt anyone has bought, or will buy it in the near future. The Entertainment Field (Including all forms of Arts and Amusements) is hurting terribly right now. Not many investors would be anxious to buy into a product that has seen losses and decreases over the years. - Winterfest will return. - Admission prices will increase ala Six Flags and Cedar Fair. - Rides will likely operate on a limited basis. Meaning the park will likely only operate main attractions until the heart of the season arrives...even more dramatically than they have in the past. - Entertainment budgets will be cut yet again. - A ride rotation program will likely gain momentum. Expect to see major attractions at Paramount Parks continue to shift around. - The overall general esthetic upkeep that we have seen blossoming in the recent past will likely come to a screeching halt. I would expect that rides will not get new, fresh paint jobs like they have been. - Themeing elements will continue to decline, if operate at all. I would not be at all suprised to see attractions like TR operate without the theming turned on at all. I hate to forsee things like this, and I sure hope I am wrong, but I feel it coming. Having been in the industry myself for over 10 years, I know that right now things are really bad. Downsizing (in all areas) is now the norm. Let's hope our economy improves, so that the state of affairs improves among those that provide us with our fun. Shaggy Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted February 8, 2006 Share Posted February 8, 2006 And what is your basis for that speculation Shaggy? Quote Link to comment Share on other sites More sharing options...
Shaggy Posted February 8, 2006 Share Posted February 8, 2006 Experience, a little bit of insider info, and as I said... a lot of guessing ;-) Shaggy Quote Link to comment Share on other sites More sharing options...
CoastersNSich Posted February 8, 2006 Share Posted February 8, 2006 Here's my guesses about the future of PKI... remember they are my GUESSES... - I highly doubt anyone has bought, or will buy it in the near future. The Entertainment Field (Including all forms of Arts and Amusements) is hurting terribly right now. Not many investors would be anxious to buy into a product that has seen losses and decreases over the years. - Winterfest will return. - Admission prices will increase ala Six Flags and Cedar Fair. - Rides will likely operate on a limited basis. Meaning the park will likely only operate main attractions until the heart of the season arrives...even more dramatically than they have in the past. - Entertainment budgets will be cut yet again. - A ride rotation program will likely gain momentum. Expect to see major attractions at Paramount Parks continue to shift around. - The overall general esthetic upkeep that we have seen blossoming in the recent past will likely come to a screeching halt. I would expect that rides will not get new, fresh paint jobs like they have been. - Themeing elements will continue to decline, if operate at all. I would not be at all suprised to see attractions like TR operate without the theming turned on at all. I hate to forsee things like this, and I sure hope I am wrong, but I feel it coming. Having been in the industry myself for over 10 years, I know that right now things are really bad. Downsizing (in all areas) is now the norm. Let's hope our economy improves, so that the state of affairs improves among those that provide us with our fun. Shaggy Not questioning what you're saying, but if this is true, things will go downhill even further to the point that our local "major" parks will be Holiday World, Kennywood, and Cedar Point, for example. The price of admission at Cedar Fair parks, especially Cedar Point, are actually lower this year. CP is now $39.95, and $9.95 for juniors and seniors. Geauga Lake remains at $24.95 and $9.95. If they want to be "The Best of Hollywood Entertainment," they can't be cutting hours, increasing the "limited operations", letting the theming and aesthetics go by the wayside. People going to a crowded, run under capacity, dirty park - even at a discount - won't be happy and just might not come back. There are a few friends of mine (not coaster enthusiasts) who said that PKI doesn't interest them much anymore. The crowded waterpark running half of the slides, having to wait 1/2 hour for food on a somewhat busy day, and a poorly managed smoking policy are just a few of their complaints. If gas prices happen to be cheaper than last year (and this is doubtful,) they'll just go for the competition, and better fun for their money. Quote Link to comment Share on other sites More sharing options...
cewldre Posted February 8, 2006 Share Posted February 8, 2006 well, it's my educated guess that the parks have a serious bidder on the market, or have been sold, or are in the stages of being sold. A company does not usually announce that it is interested in divesting something unless something is in the works. It would be highly unusual for someone like CBS to state they are interested in selling the parks in hopes someone will decide to buy them. They would not use the story as a huge classified ad. For Sale: Amusement Park Chain... Doesn't work that way. Quote Link to comment Share on other sites More sharing options...
Shaggy Posted February 8, 2006 Share Posted February 8, 2006 Six Flags broadcast that it was for sale... and no one bought... thus they are "restructuring." I think this is exactly what PP will do. Clear Channel recently spun off it's entire Entertainment Division (now called Live Nation) with the intent of selling. So far, no interested parties. Shaggy Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted February 8, 2006 Share Posted February 8, 2006 But what you fail to take into account is that the company has said that they expect new ownership to take over by mid year. Now we all know how much is involved in a property transfer this large. I just do not think that it would be being tossed about that there would be a transfer coming up if something were not in the works. Quote Link to comment Share on other sites More sharing options...
jzarley Posted February 8, 2006 Share Posted February 8, 2006 However, in the case of a public company, the announcement of just the intention to sell can have a positive impact on their stock price. (Although, considering that CBS is trading about $0.40 below their offering price, this particular announcement didn't seem to do the trick ) That would be a great incentive to announce your desire to sell, even if you did not yet have a buyer. This is also like the third time over the past year that the company has put out a press release announcing their intentions to sell off "non-core assets" (i.e., the parks and publishing). There was a great quote in an article from the Washington Post about media companies getting into--then out off--the theme park biz: "With their slow growth and high capital costs, regional theme-park chains did little to boost the stock prices of parent media companies such as Time Warner and Viacom. Wall Street analysts "don't give credit to assets buried in the balance sheet. If you don't get credit, you look at assets as sources of cash that can be deployed to other core businesses," said Robert Routh, an analyst for Jefferies & Co." (This full article can be linked to from the Coasterbuzz home page...) Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted February 8, 2006 Share Posted February 8, 2006 ^ I think you're hitting the nail right on the head. All they really stated was that they had people "interested" in purchasing the parks. Legally, they could have asked Mike, the intern if he were interested and they could have said that. I really think it was a stock booster. Now, they could have something going on that we don't know about, but it would be one of those deals where both companies would be quick to announce it once they are anywhere near an agreement. Quote Link to comment Share on other sites More sharing options...
Vortex Posted February 8, 2006 Share Posted February 8, 2006 (edited) Sorry but I'm not trying to start that at all . I'm just letting everybody know It's not and investment group that's buying PKI and don't worry about it being resold soon after the deal is done. and entertainment group is buying PKI, make it what you want. .....I coulda sworn someone said that it would be an investment frim that would be buying the parks. And what's he mean by "entertainment group?" Don't tell me it's Cedar Fair. I'd much rather it be Busch Gardens/Sea World that bought us. What I mean by entertaiment group is they are in the same line of business as PKI, So the parks not going to be turned around and resold for a profit like a investment group would do. just remember new owers are going to make changes. It's the nature of The Beast all things change. I know who is going to buy the parks but will not say. It's not Disney. Edited February 8, 2006 by Vortex Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted February 8, 2006 Share Posted February 8, 2006 Interesting that you know that, as my sources say there will be an AUCTION. And the deal is expected to close in the second half of this year. Yes, Six Flags had no acceptable bids. But, there is a huge difference between trying to sell a stockholder owned, very heavily debt laden park chain composed of same great and quite a few marginal (at best) properties (that also had a new management waiting in the wings) as opposed to a profitable park chain that has done well in the marketplace that has four US parks, one Canadian park and manages an attraction in Las Vegas and a small California park and is only a subsidiary of a very profitable media firm. Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted February 9, 2006 Share Posted February 9, 2006 Well, your source must be full of it then. There certainly will be no Auction of the parks. And if you're saying that an Auction of the parks took place, it's very unlikely that this would have been able to be kept quiet. Quote Link to comment Share on other sites More sharing options...
Gordon Bombay Posted February 9, 2006 Share Posted February 9, 2006 ^Unless it was done on the black market. Quote Link to comment Share on other sites More sharing options...
jzarley Posted February 9, 2006 Share Posted February 9, 2006 An "auction" in corporate acquisition terms is simply a time period where various entities that are interested in buying a company submit sealed bids with their offers. The company than decides who to sell the company to (or whether to sell it at all) based on the quality of the offers. Six Flags tried this at the end of 2005, but didn't receive any "meaningful" offers, so the company didn't sell. When AT&T wanted rid of their mobile business, they held an auction to sell it (Cingular won). It's really a pretty common practice in the world of M&A... A lot of times it's done when there are competing suitors so that the selling company gets the best price. And, participants are usually invited to submit a bid--it's not something that's open to the public. It's just kind of misleading, because it brings to mind the traditional idea of an "auction", with an auctioneer yelling and trying to sell off Top Gun to the highest bidder Quote Link to comment Share on other sites More sharing options...
DA RIPPER Posted February 14, 2006 Share Posted February 14, 2006 Auction Quote Link to comment Share on other sites More sharing options...
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