Is This MASSIVE Theme Park Merger in Trouble? We Have an Update...

For the past few months, we’ve been keeping you updated on the merger between Six Flags and Cedar Park — two of the largest theme park companies in the United States.

©Six Flags

It’s been stated that the deal is expected to be complete in the first half of 2024, but could this merger be in trouble? A recent update is giving us a look inside what’s happening.

According to MarketWatch, Six Flags Entertainment Inc. hit a loss in their final quarter of 2023, posting a net loss of $22 million (27 cents a share) due to transaction costs stemming from the merger that was announced in November 2023.

©Six Flags Entertainment Corporation

This comes “after income of $10 million, or 12 cents a share, in the year-earlier period.” While that’s a pretty big loss, the park is still expecting the merger deal, which has a value of $8 billion including debts, to go through. It will also create a “new entity with a portfolio of 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada and Mexico.”

©Six Flags Magic Mountain

However, that’s not where the problem lies. The issue is that, according to Cleveland.com, Cedar Fair shareholders are NOT happy with the merger, and are trying to stop it.

©Cedar Fair Entertainment Company

One of the opponents of the merger is Neuberger Berman Investment Advisors based in New York City, one of Cedar Fair’s largest shareholders, who wrote a “sharply worded letter” to Cedar Fair’s board, vehemently outlining numerous objections to the merger. However, it’s unclear right now if the unhappiness of the shareholders will be enough to stop the merge.

©Cedar Point

The parks have about 3.5 more months to merge successfully if they wish to achieve it by the first half of 2024. We’ll be sure to keep you updated on all the latest news, so stay tuned to AllEars!