CoastersRZ Posted August 1, 2006 Share Posted August 1, 2006 -As has been stated before, they do not intend to change the operations or marketing strategy for the Paramount Parks in the 2006 season. Jack Falfus and the operations team have been evaluating each park for its customer service and capital needs for not only 2007, but long term. Cedar Fair is not going to make any snap decisions with the new parks. Any decision will be based on the long term benefit to the company. -An important thing to note, is that announcements for capital expenditure plans for 2007 at each of the parks will be made in the beginning of the fall. -They have also split the parks up into specific regions. The Northern region: Cedar Point, Kings Island, Canada`s Wonderland, Geauga Lake, Dorney Park, Valleyfair and Michigan`s Adventure. The Southern region includes Kings Dominion, Carowinds, and Worlds of Fun. The Western region includes Knott`s Berry, Farm, Great America, and the Soak City water parks. In future press releases and conference calls, they will refer to those regions. -At or near the end of 2006, Cedar Fair will raise approximately $250 million in offering additional units of Cedar Fair. -Cedar Fair is presently in negotiations with Paramount and Nickelodeon in regards to the licensing agreements. They hope to have those finalized in the next six to eight weeks. -Key personal are in place at the Paramount Parks. It is a mixture of both Cedar Fair personel as well as Paramount personel. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted August 1, 2006 Share Posted August 1, 2006 Cedar Fair is presently in negotiations with Paramount and Nickelodeon in regards to the licensing agreements. They hope to have those finalized in the next six to eight weeks. I heard that and didn't really understand. I thought this was already a done deal. Are they trying to get a refund if they don't use all the Paramount licensing for the ten year period? What is up with this? Quote Link to comment Share on other sites More sharing options...
CoastersRZ Posted August 1, 2006 Author Share Posted August 1, 2006 My guess, and it is only that, is that while they agreed to terms for the licensing agreements, they are ironing out the specifics. Such as what happens if they want to drop the Paramount licenses after only a year. Also, they are probably discussing how Cedar Fair would go about renewing the Nickelodeon license after its current four year agreement runs out. That is of course assuming that they will want to renew the Nickelodeon license (I think they would be smart if they did renew it). Quote Link to comment Share on other sites More sharing options...
jzarley Posted August 1, 2006 Share Posted August 1, 2006 Yeah...that one struck me as kind of odd too. My initial thought was that they may be trying to negotiate a better/longer term deal for the Nickelodeon franchises (to which Kinzel referred to KI's Nick Universe as "the best kids' area in the country") Also, when did CF rebrand the Radisson franchise at KBF? That's a smart move...I always thought it was kind of dumb that a company with CF's lodging operations infrastructure was franchising hotels from anyone! Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted August 1, 2006 Share Posted August 1, 2006 I think they rebranded that Radisson in 2oo4... Quote Link to comment Share on other sites More sharing options...
jzarley Posted August 1, 2006 Share Posted August 1, 2006 ^ I thought they bought it and turned it into a Radisson around that time. I'm referring to the item in the MSNBC article that you posted in another thread... Knott's Berry Farm has held up better than Cedar Point. It joins Worlds of Fun as the two Cedar Fair parks that improved during the period, even if a lot of the gains at Knott's are due to the conversion of a Radisson hotel adjacent to the park into a park-branded resort. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted August 1, 2006 Share Posted August 1, 2006 Yeah, I know. The Fool isn't perfect...he has occasionally made errors before, as well. I think this is probably one of them. Or perhaps the gains started in 2005 and are still building? Quote Link to comment Share on other sites More sharing options...
jzarley Posted August 1, 2006 Share Posted August 1, 2006 Hmmm...I just checked out the KBF site, and the former Radisson is now referred to as the "Knotts Berry Farm Resort Hotel." http://www.knottshotel.com/ Whenever this happened, I definitely missed it... But, again, I think this is a really smart move. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted August 1, 2006 Share Posted August 1, 2006 Yeah, why pay a license fee to Radisson? It's the park, not the Radisson franchise, that draws virtually all the business to that hotel! Quote Link to comment Share on other sites More sharing options...
KIBeast Posted August 1, 2006 Share Posted August 1, 2006 Cedar Fair is presently in negotiations with Paramount and Nickelodeon in regards to the licensing agreements. They hope to have those finalized in the next six to eight weeks. I heard that and didn't really understand. I thought this was already a done deal. Are they trying to get a refund if they don't use all the Paramount licensing for the ten year period? What is up with this? Interpreter, you are really confusing me now. You have been saying on these boards for quite some time now that the licensing was not a done deal. Now, you say you thought it was. Quote Link to comment Share on other sites More sharing options...
Vortex Posted August 1, 2006 Share Posted August 1, 2006 I am looking at the 2006 map for Knotts Berry Farm and the hotel is listed and show as The Knotts Berry Farm Resort Hotel. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted August 1, 2006 Share Posted August 1, 2006 Cedar Fair is presently in negotiations with Paramount and Nickelodeon in regards to the licensing agreements. They hope to have those finalized in the next six to eight weeks. I heard that and didn't really understand. I thought this was already a done deal. Are they trying to get a refund if they don't use all the Paramount licensing for the ten year period? What is up with this? Interpreter, you are really confusing me now. You have been saying on these boards for quite some time now that the licensing was not a done deal. Now, you say you thought it was. What I have said is that Cedar Fair had not decided on whether or not to use the licensing rights it obtained under the sale agreement. I thought the terms of any such use were long ago worked out. Apparently, now Cedar Fair is trying to come to an agreement as to the terms. That is what surprises me. Like other posts in this thread, I believe they may be trying to extend the Nick agreement or agree to the terms of a proposed extension, while perhaps trying to reduce the costs of the Paramount licensing if it is used for a shorter duration or less extensively than first contemplated. So, to sum up, I thought the terms of licensing WERE a done deal. What I didn't think was was a decision on whether or not or how extensively to use the Paramount franchise. Then, today, we had the conference call. Clear as mud? Quote Link to comment Share on other sites More sharing options...
KIBeast Posted August 1, 2006 Share Posted August 1, 2006 Yup. Sorry if I came off harsh or anything. Apparently, I was just as confused about it as you. Quote Link to comment Share on other sites More sharing options...
Captain Picard Posted August 1, 2006 Share Posted August 1, 2006 Couldn't the deal be that Cedar Fair has to keep it Paramount or pay if they want to remove it if done before 10 years? Could they be looking at the cost of a buyout or paying for licensing for 10 years? It looks to me as it can go either way. It was never said how this deal was or I missed it. They never said who had to pay who. Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted August 1, 2006 Share Posted August 1, 2006 It's unlikely that the new owners would be under constraints to use and utlize lisencing (ie - Paramount, Nick) as a result of the sale. I think that Interpreters statements are more likely. Quote Link to comment Share on other sites More sharing options...
Skippy Posted August 1, 2006 Share Posted August 1, 2006 Or their trying to extend the lisencing for the brands (i.e. Nickelodeon/Paramount) to be introduced outside the Paramount Parks and into some of the Cedar Fair parks Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted August 2, 2006 Share Posted August 2, 2006 Yep, particularly the Nick...maybe we will give up the Paramount stuff sooner (oh, please don't make us, tee hee) if we can license the Nick stuff for all the CF parks! Quote Link to comment Share on other sites More sharing options...
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