Browntggrr Posted May 10, 2007 Share Posted May 10, 2007 So they sell their American parks for $1.24 billion so the can build overseas for $1 billion? Is there something I'm missing here? http://www.boston.com/news/world/asia/arti...rea_theme_park/ Quote Link to comment Share on other sites More sharing options...
jzarley Posted May 10, 2007 Share Posted May 10, 2007 At one time, weren't there also Paramount parks announced for both China and Japan as well? I wonder what ever happened to those... EDIT: Yeah, in fact here's a link to the story on the prposed Chinese park: http://www.iht.com/articles/2006/04/26/business/viacom.php ...and, the Japanese park: http://www3.paramountparks.com/news/detail.cfm?item_id=264 Quote Link to comment Share on other sites More sharing options...
welchce Posted May 10, 2007 Share Posted May 10, 2007 Paramount probably just saw the success of Disney's Parks overseas and thought that maybe they could capitalize on it. This seems very strange. Quote Link to comment Share on other sites More sharing options...
westcoaster Posted May 10, 2007 Share Posted May 10, 2007 It seems if they wanted to stay in the business of Parks they would have kept the Paramount parks in the U.s.a, To add to there portfolio. And you speak of the disney parks overseas, Does anyone believe there will still be a Disney Park opened in the usa that is not year round??? Quote Link to comment Share on other sites More sharing options...
jzarley Posted May 10, 2007 Share Posted May 10, 2007 Paramount probably just saw the success of Disney's Parks overseas and thought that maybe they could capitalize on it. This seems very strange. Universal has had some luck in Asia as well. In fact, Universal Studios Japan is their best attended park. There's a lot of growth opportunity in Asia (especially in China and India), which is why so many US businesses are trying to expand and capitalize on growth there. This is pretty much a universal (no pun intended) theme in business right now, with the theme park industry being a very tiny piece of that Asian investment. Quote Link to comment Share on other sites More sharing options...
welchce Posted May 10, 2007 Share Posted May 10, 2007 It seems if they wanted to stay in the business of Parks they would have kept the Paramount parks in the U.s.a, To add to there portfolio. And you speak of the disney parks overseas, Does anyone believe there will still be a Disney Park opened in the usa that is not year round??? Most likely not. If Disney builds another park that is not in CA or FL my guess would TX since it's about the mid-point and could be opened year round. Quote Link to comment Share on other sites More sharing options...
ohhs02highlander Posted May 10, 2007 Share Posted May 10, 2007 So they sell their American parks for $1.24 billion so the can build overseas for $1 billion? Is there something I'm missing here? http://www.boston.com/news/world/asia/arti...rea_theme_park/ uhm well according to that article viacom which also runs paramount picutres is building the park...Paramount Parks however when Viacom split into two companies Viacome Corp and CBS Corp went to the latter(CBS), which has ownership of the tv networks such as CBS Televison and showtime to name a couple. It did not aquire paramount pictures as that was retained by viacome so therefore to have Paramount Parks was well not reasonable as they had no more tiest to paramount pictures so that's the main reason they sold the parks. Viacome however with having Paramount pictures/studios would make sense to build an amusement park in other parks...and this sounds more in the plans than the other 2 asia parks proposed Quote Link to comment Share on other sites More sharing options...
jzarley Posted May 10, 2007 Share Posted May 10, 2007 ...It did not aquire paramount pictures as that was retained by viacome so therefore to have Paramount Parks was well not reasonable as they had no more tiest to paramount pictures so that's the main reason they sold the parks. The main reason that CBS sold the parks was that they did absolutely nothing to increase the value of the company. The only way they could unlock the value of those assets sitting on their balance sheet was to sell them. Even if Paramount Parks would have experienced a year with a 100% increase in revenue, the effect on CBS's overall market cap would have been negligible. (And, of course, there's also the "official" reason about "focusing on their core businesses" <g>) Quote Link to comment Share on other sites More sharing options...
PKIVortex Posted May 10, 2007 Share Posted May 10, 2007 Yeah but if Viacom wanted to be in the park business why would they give the parks to CBS. Sounds like to me Viacom wants to build there own park and have the entire park themed to Paramount/Viacom properties. To do that at the existing Paramount Parks would have probably cost a lot of money. But I agree it does sound strange. Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted May 10, 2007 Share Posted May 10, 2007 How Lucky for Asia. I can see now that they'll be experiencing the Magic of the Movies. All I can say is that I'm pleased Paramount is gone. I've not seen how CF is doing but it's encouraging what I'm hearing. Quote Link to comment Share on other sites More sharing options...
PKIVortex Posted May 10, 2007 Share Posted May 10, 2007 The only place thrills are Paramount is a thing of the past here in North America. LOL Quote Link to comment Share on other sites More sharing options...
Kenban Posted May 10, 2007 Share Posted May 10, 2007 It seems if they wanted to stay in the business of Parks they would have kept the Paramount parks in the U.s.a, To add to there portfolio. And you speak of the disney parks overseas, Does anyone believe there will still be a Disney Park opened in the usa that is not year round??? Most likely not. If Disney builds another park that is not in CA or FL my guess would TX since it's about the mid-point and could be opened year round. The company that owns the Disney parks in Japan has just announced they are going to build a 3rd park which will be indoors. I believe this might be a model for future growth in the United States. There has been talk for some time now that Disney was going to build hotels in several major markets. I think what we might see are hotels which include a indoor theme park built outside of a major city such as New York or Chicago. There might even be a section of the park built outdoors for use during the summer and maybe weekends during the spring/fall similar to the hours of a traditional seasonal park. I think its something Disney is already looking at and it could be huge. Quote Link to comment Share on other sites More sharing options...
RWildman424 Posted May 10, 2007 Share Posted May 10, 2007 The article is dated July 29, 2004, I don't think its happening. Quote Link to comment Share on other sites More sharing options...
RWildman424 Posted May 10, 2007 Share Posted May 10, 2007 never mind, I was looking at the paramount web site, not the first one Quote Link to comment Share on other sites More sharing options...
welchce Posted May 10, 2007 Share Posted May 10, 2007 The company that owns the Disney parks in Japan has just announced they are going to build a 3rd park which will be indoors. I believe this might be a model for future growth in the United States. There has been talk for some time now that Disney was going to build hotels in several major markets. I think what we might see are hotels which include a indoor theme park built outside of a major city such as New York or Chicago. There might even be a section of the park built outdoors for use during the summer and maybe weekends during the spring/fall similar to the hours of a traditional seasonal park. I think its something Disney is already looking at and it could be huge. Actually I think I do remember hearing something like that. Disney kind of tried to build around America with DisneyQuest interactive indoor theme park but after a while people stopped going. The Chicago one closed and others were never built. Hopefully they can use that to help figure out how to make this idea work. Quote Link to comment Share on other sites More sharing options...
PKIVortex Posted May 10, 2007 Share Posted May 10, 2007 It's just silly that Viacom didn't want theme parks here anymore but they are willing to build new ones. But I guess it makes since, it seems here the growth isn't what is use to be. Quote Link to comment Share on other sites More sharing options...
ohhs02highlander Posted May 10, 2007 Share Posted May 10, 2007 It's just silly that Viacom didn't want theme parks here anymore but they are willing to build new ones. But I guess it makes since, it seems here the growth isn't what is use to be. Again it's not Viacom that didn't want the Paramount Parks...It was CBS corp which for whatever reason acquired them. I don't know why the Split Paramount Parks from Viacom which retained Nickelodeon, and Paramount Studios which are/were the two major parts of paramount parks...i guess CBS Corp demanded them knowing they could/were going to sell the parks for a handsome 1.24 billion Quote Link to comment Share on other sites More sharing options...
jzarley Posted May 11, 2007 Share Posted May 11, 2007 CBS ended up with the parks instead of Viacom, because Viacom was intended to be the high growth stock. Whereas CBS was supposed to be the "income" stock. (Although, the CBS stock has done pretty well for itself...) The parks definitely fit more into the low growth/stable income mold, so that's why they went to the CBS side. I'm sure that whichever side would have ended up with the parks would have put them on the block. Building a park in Asia today would have been like building a new park in the US in the late 60s/early 70s. There's a lot of growth potential for the industry (and really, every other industry) right now. I'm suprised no one has announced an Indian park. Yes, a large percentage of the population still lives in unbelievable poverty, but there's also a burgeoning middle class there that's bigger than the entire US population. I imagine infrastructure (or lack there of) probably plays a big role in why there aren't Indian parks under construction right now... Quote Link to comment Share on other sites More sharing options...
jzarley Posted May 11, 2007 Share Posted May 11, 2007 According to this article in Variety, it's Paramount's licensing division that's involved. (Daewoo will actually build and own the park.) So, in this context it makes a lot more sense: http://www.variety.com/article/VR111796467...yid=18&cs=1 Quote Link to comment Share on other sites More sharing options...
Gordon Bombay Posted May 11, 2007 Share Posted May 11, 2007 So basically this isn't a new paramount park but a new theme park being built by daewoo, and paramount is just giving them licenscing agreements in exchange for daewoo building it? Quote Link to comment Share on other sites More sharing options...
jzarley Posted May 11, 2007 Share Posted May 11, 2007 So basically this isn't a new paramount park but a new theme park being built by daewoo, and paramount is just giving them licenscing agreements in exchange for daewoo building it? Yep...pretty much it in a nutshell. (According to Variety, anyway...) Quote Link to comment Share on other sites More sharing options...
PKIVortex Posted May 11, 2007 Share Posted May 11, 2007 Okay that puts much more light on the picture. Quote Link to comment Share on other sites More sharing options...
Browntggrr Posted June 26, 2007 Author Share Posted June 26, 2007 http://www.reuters.com/article/bondsnews/i...531591520070625 Update. Quote Link to comment Share on other sites More sharing options...
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