Category Archives: Six Flags Magic Mountain

Six Flags Entertainment Corporation, owner of Six Flags Magic Mountain to merge with Cedar Fair, owner of Knott’s Berry Farm, in equal transaction. Combined company will benefit from expanded and complementary Portfolio of 42 iconic parks and 9 resort properties across 17 states, Canada and Mexico.

Diversified Geographic Footprint with a More Balanced Presence in Year-Round Operating ClimatesMore Robust Operating Model and Technology Platform to Drive Improved Guest Experience and Park EfficienciesStrong Financial Profile and Cash Flow Generation Expected to Facilitate Investments in Park Upgrades, Expansions and New, Innovative Offerings

Approximately $200 Million of Annual Synergies, Including $120 Million of Cost Savings Anticipated Within Two Years Following CloseExpected to be Accretive to EPS for Cedar Fair Unit-holders and Six Flags Shareholders within the First 12 Months Following Close.

SANDUSKY, Ohio & ARLINGTON, Texas – (BUSINESS WIRE) – Cedar Fair (NYSE: FUN) and Six Flags Entertainment Corporation (NYSE: SIX) today announced that they have entered into a definitive merger agreement to combine in a merger of equals transaction. The combined company, with a pro forma enterprise value of approximately $8 billion based on both companies’ debt and equity values as of October 31, 2023, will be a leading amusement park operator in the highly competitive leisure space with an expanded and diversified footprint, a more robust operating model and a strong revenue and cash flow generation profile.

Under the terms of the merger agreement, which has been unanimously approved by the Boards of Directors of both companies, Cedar Fair unitholders will receive one share of common stock in the new combined company for each unit owned, and Six Flags shareholders will receive 0.5800 (the “Six Flags Exchange Ratio”) shares of common stock in the new combined company for each share owned. Following the close of the transaction, Cedar Fair unitholders will own approximately 51.2%, and Six Flags shareholders will own approximately 48.8%, of the combined company’s fully diluted share capital on a pro forma basis. One business day prior to the close of the transaction, Six Flags will declare a special cash dividend composed of: (i) a fixed amount of $1.00 per outstanding Six Flags share, totaling approximately $85 million in the aggregate, plus, (ii) an amount per outstanding Six Flags share equal to (a) the aggregate per unit distributions declared or paid by Cedar Fair to unitholders with a record date following today’s date and prior to the close of the transaction, multiplied by (b) the Six Flags Exchange Ratio, which special dividend will be payable to Six Flags shareholders of record as of one business day prior to the close of the transaction, contingent on the closing of the transaction.

“The combination of Six Flags and Cedar Fair will redefine our guests’ amusement park experience as we combine the best of both companies,” said Selim Bassoul, President and Chief Executive Officer of Six Flags. “Six Flags and Cedar Fair share a strong cultural alignment, operating philosophy, and steadfast commitment to providing consumers with thrilling experiences.”

“Our merger with Six Flags will bring together two of North America’s iconic amusement park companies to establish a highly diversified footprint and a more robust operating model to enhance park offerings and performance,” said Richard Zimmerman, President and Chief Executive Officer of Cedar Fair. “Together, we will have an expanded and complementary portfolio of attractive assets and intellectual property to deliver engaging entertainment experiences for guests. The combination also creates an enhanced financial profile with strong cash flow generation to accelerate investments in our parks to delight our guests, driving increased levels of demand and in-park value and spending. I have great respect for the Six Flags team and look forward to joining forces as we embark on this next chapter together.”

“Our merger with Six Flags will bring together two of North America’s iconic amusement park companies to establish a highly diversified footprint and a more robust operating model to enhance park offerings and performance,” said Richard Zimmerman, President and Chief Executive Officer of Cedar Fair.

“The combination of Six Flags and Cedar Fair will redefine our guests’ amusement park experience as we combine the best of both companies,” added Selim Bassoul, President and Chief Executive Officer of Six Flags. “Six Flags and Cedar Fair share a strong cultural alignment, operating philosophy, and steadfast commitment to providing consumers with thrilling experiences. By combining our operational models and technology platforms, we expect to accelerate our transformation activities and unlock new potential for our parks. We are excited to unite the Cedar Fair and Six Flags teams to capitalize on the tremendous growth opportunities and operational efficiencies of our combined platform for the benefit of our guests, shareholders, employees, and other stakeholders.”

Compelling Strategic and Financial Benefits

  • A Successful Amusement Park Operator with Complementary Portfolio of Attractive Assets: The combined company will operate a portfolio of 27 amusement parks, 15 water parks and 9 resort properties across 17 states in the U.S., Canada, and Mexico. The company’s complementary portfolio will include some of the most iconic parks in North America with significant brand equity and loyal, recurring guest bases within the highly competitive leisure space. The combined company will also have entertainment partnerships and a portfolio of beloved IP such as Looney Tunes, DC Comics and PEANUTS to develop engaging new attractions enabled by compelling characters, environments, and storytelling.
  • Diversified Footprint and Guest Experiences: Cedar Fair and Six Flags have minimal market overlap of park operations, and the combined company’s complementary geographic footprint is expected to mitigate the impact of seasonality and reduce earnings volatility through a more balanced presence in year-round operating climates. The portfolio will include diversified experiences for guests including safaris and animal experiences, campgrounds, sports facilities and luxury lounges, enabling the combined company to better meet rising consumer demand for varied and engaging entertainment options.
  • Enhanced Operating Platform to Improve Guest Experiences: By uniting Cedar Fair and Six Flags’ complementary operating capabilities, the combined company will benefit from a more robust operating platform for improved park offerings and more efficient systemwide performance. The companies expect to leverage Cedar Fair’s recent park investment experience to accelerate the transformation underway across Six Flags’ portfolio. Cedar Fair and Six Flags will seek to create a more engaging and immersive guest experience. The combined company will also offer expanded park access to season pass holders along with an enhanced, combined loyalty program featuring additional perks.
  • Experienced and Proven Leadership Team: The senior leadership teams of Six Flags and Cedar Fair bring different and complementary skillsets and experience to the combined company, including decades of park operating experience as well as significant expertise integrating businesses and achieving synergy targets.
  • Significant Cost Savings and Revenue Uplift Opportunity: Following the close of the transaction, Cedar Fair and Six Flags expect the combined company will benefit from the significant value created by total anticipated annual synergies of $200 million. Approximately $120 million of these synergies are expected to be related to identified administrative and operational cost savings, which the companies anticipate realizing within two years following transaction close. The companies also expect to leverage their complementary operating capabilities to deliver additional revenue uplift, generating approximately $80 million of incremental EBITDA that the companies anticipate realizing within three years of transaction close.
  • Strong Financial Profile: Over the last 12 months, through the third quarter of fiscal 2023, Six Flags and Cedar Fair collectively entertained 48 million guests, and, as a combined company, would generate pro forma $3.4 billion1 in revenue, $1.2 billion1 in Adjusted EBITDA2, and $826 million1,3 of free cash flow4, reflecting run rate cost savings of $120 million and revenue uplift resulting in $80 million of incremental EBITDA. The transaction is expected to be accretive to earnings per share for Cedar Fair unitholders and Six Flags shareholders within the first 12 months following transaction close. The combined company is also expected to have a pro forma leverage ratio of approximately 3.7x net debt to Adjusted EBITDA, inclusive of synergies, with a path to reduce the leverage ratio to approximately 3.0x within two years of transaction close.
  • Significant Free Cash Flow Generation and Enhanced Financial Flexibility: The combined company’s increased free cash flow will provide it with greater flexibility to invest in new rides and attractions, broader food and beverage selections, additional in-park offerings, and cross-park initiatives, such as consumer technology and enhanced guest services. The combined company’s resources are expected to be strategically deployed to grow attendance, increase per capita spending, and improve profitability, all while enhancing guests’ value and experience across the park portfolio. The combined company is committed to allocating capital to maximize shareholder returns once the company achieves its targeted net leverage ratio.

Leadership, Corporate Governance and Headquarters

The combined company will be led by a proven management team that reflects the strengths and capabilities of both organizations. Upon closing of the transaction, Richard Zimmerman, President and Chief Executive Officer of Cedar Fair, will serve as President and Chief Executive Officer of the combined company and Selim Bassoul, President and Chief Executive Officer of Six Flags, will serve as Executive Chairman of the combined company’s Board of Directors. Brian Witherow, Chief Financial Officer of Cedar Fair, will serve as Chief Financial Officer of the combined company and Gary Mick, CFO of Six Flags, will serve as Chief Integration Officer of the combined company.

Following closing of the transaction, the newly formed Board of Directors of the combined company will consist of 12 directors, six from the Cedar Fair Board and six from the Six Flags Board.

Upon closing of the transaction, the combined company will operate under the name Six Flags and trade under the ticker symbol FUN on the NYSE and will be structured as a C Corporation. The combined company will be headquartered in Charlotte, North Carolina, and will maintain significant finance and administrative operations in Sandusky, Ohio.

Approvals and Closing

The merger is expected to close in the first half of 2024, following receipt of Six Flags shareholder approval, regulatory approvals, and satisfaction of customary closing conditions. Approval by Cedar Fair unitholders is not required. Six Flags’ largest shareholder, which owns approximately 13.6% of Six Flags’ shares outstanding, has signed a voting and support agreement to vote in favor of the transaction. The transaction is not expected to trigger any change of control provision under Cedar Fair’s and Six Flags’ respective outstanding Notes. The companies expect to refinance their respective revolving credit facilities, and Six Flags expects to refinance the Six Flags Term Loan, ahead of transaction close.

Six Flags Magic Mountain to operate 365 days a year starting in January 2018

six flags
Six Flags Magic Mountain has announced that they will begin 365-day operation in January 2018.

Santa Clarita, Calif. – Six Flags Entertainment recently announced their plans for Six Flags Magic Mountain, the Southern California flagship theme park, to enter into 365-day operation, starting on January 1, 2018.

“With the best collection of thrills in the world and the Six Flags brand expanding globally, this is the perfect time for one of our flagship properties to make the business transition to a 365-day operating schedule in order to maximize travel industry opportunities. Six Flags will now provide a thrilling vacation option to both international and domestic visitors coming to enjoy Southern California,” said Jim Reid-Anderson, Chairman, President and CEO of Six Flags Entertainment Corporation.

The Valencia theme park originally opened in 1971, and has operated on a limited schedule, with Magic Mountain running year-round on weekends and holidays in the off-season, and daily throughout spring and summer.

The most recent attraction to Magic Mountain was Justice League: Battle for Metropolis, which opened this past July to take guests along with Batman, Superman and friends as they face classic DC villains to save their city.

For more information on Six Flag Magic Mountain and their new operating schedule, or to purchase tickets, visit sixflags.com. Check out our coverage of the opening of Justice League: Battle for Metropolis below:

Six Flags Magic Mountain to celebrate 3rd annual Holiday in the Park! November 19 – January 1

Six Flags Magic Mountain celebrates its 3rd annual Holiday in the Park!

Santa Clarita, Calif. – It’s the most wonderful time of the year as Six Flags Magic Mountain celebrates Holiday in the Park featuring thrilling rides, tasty treats and exciting family entertainment for

Holiday fun is coming to Six Flags Magic Mountain!
Holiday fun is coming to Six Flags Magic Mountain, Nov. 19 – Jan. 1!

the holiday season, from November 19 – January 1 . Six Flags Magic Mountain Park will be transformed into a winter wonderland with thousands of colorful lights, carolers performing classic yuletide favorites and personalized meet-and-greets with Santa and his helpers. Enjoy all the wonderful aromas of the season while satisfying your appetite and quenching your thirst with hot chocolate, cider, custom fudge, holiday-inspired funnel cake flavors and many other traditional favorites.   Buy your Six Flags Magic Mountain tickets online and save.  Print your tickets at home and skip the ticket booths – go straight to the gate!

 

https://www.sixflags.com/magicmountain/special-events/holiday-park

Still time to enjoy frightful fun at Six Flags Magic Mountain’s Biggest and Scariest Halloween Event Ever! Oct. 21-23, and 28-30

 

New Haunted Attractions Include a Themed Scare Zone, Largest Maze in Park History, and Expanded

A Frightfully fun Halloween celebration is going on now through Oct. 30 at Six Flags Magic Mountain!
A Frightfully fun Halloween celebration is going on now through Oct. 30 at Six Flags Magic Mountain!

Calendar

Santa Clarita, Calif. – Six Flags Magic Mountain’s 24th season of Fright Fest® will be the biggest and scariest in the Park’s history. The exciting line-up of new haunted attractions includes a new scare zone themed after the Warner Bros. Pictures highly anticipated film, Suicide Squad, and the largest outdoor maze in the Park’s history, Aftermath 2: Chaos Rising.  The expansion also includes more roving “scare-actors” than ever before and an additional Fright Fest weekend, bringing the total to 19 event days.

Voted the Best Theme Park Halloween Event in 2016, Six Flags Magic Mountain leaves no tombstone unturned to deliver what guests want most…an all-out terrifying experience. Fright Fest will include a total of seven electrifying mazes, seven dare-to-enter scare zones, and roaming zombies around every corner. If that’s not enough, Six Flags Magic Mountain will add a sinister element to some of the theme park’s monster coasters by turning off the lights, leaving riders to face their fears in total darkness – literally.

This year’s stunning new scare zone, Suicide Squad: The Six Flags Fright Fest Experience will transform the Park’s DC UNIVERSE area into DC’s Midway City, where some of the “Worst Heroes Ever” from the highly-anticipated film Suicide Squad will be roaming the streets.  Darkness and chaos will reign as some of DC Comics’ most famous supervillains will be found among the mass destruction from the film. State-of-the-art digital imagery and fiery special effects will create an inferno as buildings burst into flames and creatures attack from every angle.  “It feels good to be bad” at Suicide Squad: The Six Flags Fright Fest Experience.

The Park’s largest outdoor maze ever built, Aftermath 2: Chaos Rising, debuts in 2016 in a brand new location.  Covering more than 40,000 square feet, this massive maze will strike terror into the brave souls entering a post-apocalyptic city inhabited by nomad warriors who rule with bone-crushing iron fists and the dead stalk the living. Larger-than-life props, fire, fog and other special effects make this a must-experience maze.

Back by popular demand haunted scare zones include TERRORtory Twisted, located in the Screampunk District, which is Magic Mountain’s biggest scare zone and features steam-spewing mechanical beasts relentlessly hunting down their victims. Beware of the terrifying giant spider looming at the entrance.

Coming back for the third year, three popular mazes incorporate state-of-the-art props, Hollywood-quality make-up, and story lines not meant for the faint-of-heart. Enter the world of Red’s Revenge…over the river and through the woods, to Grandmother’s house you go, but in this fairytale, guests and the wolf are hunted by Red and her demonic minions. Vault 666 is an old abandoned research facility where genetic experiments crossing humans with animals were once conducted and just recently the frightening secrets have been unearthed, exposing terror and mayhem from deep within the unsecured vault. Willoughby’s Garden of Darkness, a dense labyrinth of man-eating plants and evil apparitions, is inhabited by Innocence, the Willoughby’s youngest daughter, who is always looking for a ghostly playmate…so keep loved ones close.

Also returning is the demented 3D twist, Toyz of Terror 3D, the defunct toy factory haunted by wicked windups, freakish furries and deranged dolls…and if that’s not enough to scare the wits out of even the bravest, guests are now forced to experience the madness in 3D terror. Willoughby’s Resurrected is a reincarnation of the Willoughby family’s beloved haunted mansion that includes hair-raising horror down long harrowing hallways and around each nightmarish-turn.  Don’t miss Chupacabra, where guests come face to face with this elusive blood-thirsty creature as it petrifies the local Dia De Los Muertos (Day of the Dead) Festival.

In addition to the two new haunted attractions this year, five additional scare zones around the park leave guests nowhere to hide and screaming to get out alive. After entering Fright Fest through the gates of Demon’s Door, face the undead in Zombie Xing. In Nightmares – A Twisted Fantasy, childhood fears and favorite bedtime stories take on a perverse twist, freak out on Exile Hill when unimaginable sinister souls appear without warning, and throughout the Wasteland, barbarian humanoids dare guests to enter the carnage of Aftermath 2: Chaos Rising.

Beginning each night at 7 p.m. and traveling throughout the park are the crazed comic-like characters who will run amuck through unsuspecting guests.

Spooktacular shows include the hypnotists, who put park guests in compromising scenarios in their hilarious stage show located in Golden Bear Theater, and the very popular VooDoo Nights, where Ghoul Rock has gone pop with a musical spectacular sure to entertain. Be sure to dust off your thriller moves and join in the fun in the Full Throttle Plaza.

For the little monsters, a Trick or Treat Trail and Halloween Crafts round out the activities during the day.

Fright Fest Operating Hours and Days:

10:30 a.m. to 1 a.m.: September 17, 24, 30, October 1, 7, 8, 14, 15, 21, 22, 28, 29

10:30 a.m. to 11 p.m.: September 18, 25, October 2, 9, 16, 23, 30

For more information on Six Flags Magic Mountain’s Fright Fest, visit our website at www.sixflags.com/magicmountain

Six Flags Magic Mountain Season Passes are on sale.  For just $10 more than a one day ticket, you’ll get unlimited visits now through the end of the 2016 season with no blackout dates. Purchase four or more Magic Mountain, Hurricane Harbor or Combo Passes and you’ll get one FREE parking pass.  Additional Season Pass perks include free tickets for friends, park admission to Fright Fest, Holiday in the Park and more.  Season Passes can be purchased at the main gate ticket booths or online at sixflags.com.  Online Pass purchases are eligible for low monthly payments through the Membership program.

Season Passholders may also take advantage of our best value in Dining by purchasing a 2016 Season Dining Pass.  For one low price you can enjoy a variety of meal options on each visit.  Dining passes may be purchased at the park or online at sixflags.com.

Save time and money.  Buy and print your tickets at home and go straight to the gate.  Plan ahead and save up to $25 on Six Flags Magic Mountain general admission when you purchase your tickets in advance of your visit date.  Get more details and buy now at sixflags.com

Six Flags Magic Mountain, the undisputed thrill capital of the world, is located at 26101 Magic Mountain Parkway, Valencia, north of Los Angeles off Interstate 5 at the Magic Mountain Parkway exit.  The Park is currently open daily. For information call (661) 255-4111 or visit us at www.sixflags.com/magicmountain.

https://www.sixflags.com/magicmountain/store/season-passes

 

About Six Flags Entertainment Corporation
Six Flags Entertainment Corporation is the world’s largest regional theme park company with $1.3 billion in revenue and 18 parks across the United States, Mexico and Canada. For 55 years, Six Flags has entertained millions of families with world-class coasters, themed rides, thrilling water parks and unique attractions. For more information, visit www.sixflags.com.

 

About Suicide Squad
From writer/director David Ayer comes “Suicide Squad,” starring Will Smith, Jared Leto, Margot Robbie, Joel Kinnaman and Viola Davis.  Based on the characters from DC, the film also stars Jai Courtney, Jay Hernandez, Adewale Akinnuoye-Agbaje, Ike Barinholtz, Scott Eastwood, Cara Delevingne, Adam Beach, and Karen Fukuhara.  It is produced by Charles Roven and Richard Suckle, with Zack Snyder, Deborah Snyder, Colin Wilson and Geoff Johns serving as executive producers. Warner Bros. Pictures presents, an Atlas Entertainment production, a film by David Ayer, “Suicide Squad.”  The film will be distributed worldwide by Warner Bros. Pictures, a Warner Bros. Entertainment Company. The film opens worldwide in 3D, and in 2D, and in select IMAX 3D theaters August 5, 2016.  “Suicide Squad” is rated PG-13 by the MPAA for sequences of violence and action throughout, disturbing behavior, suggestive content and language. www.suicidesquad.com

 

About Warner Bros. Consumer Products
Warner Bros. Consumer Products, a Warner Bros. Entertainment Company, is one of the leading licensing and retail merchandising organizations in the world.

 

About DC Entertainment
DC Entertainment, home to iconic brands DC Comics (Superman, Batman, Green Lantern, Wonder Woman, The Flash, etc.), Vertigo (Sandman, Fables, etc.) and MAD, is the creative division charged with strategically integrating its content across Warner Bros. Entertainment and Time Warner.  DC Entertainment works in concert with many key Warner Bros. divisions to unleash its stories and characters across all media, including but not limited to film, television, consumer products, home entertainment and interactive games. Publishing thousands of comic books, graphic novels and magazines each year, DC Entertainment is one of the largest English-language publishers of comics in the world.

 

SUICIDE SQUAD and all related characters and elements © & ™ DC Comics and War