- Dorney Park parent Cedar Fair will merge with Six Flags, it was announced Thursday
- A company representative said no changes to the parks will be made at this time, allowing Dorney Park & Wildwater Kingdom to retain its branding
- The merger is expected to close in the first half of 2024
SOUTH WHITEHALL TWP., Pa. — Cedar Fair, the parent company of Dorney Park & Wildwater Kingdom, will join forces with Six Flags to reshape the regional theme-park industry, it was announced Thursday.
In a joint release, the companies celebrated a "definitive merger agreement." It hailed an "expanded and diversified footprint, a more robust operating model and a strong revenue and cash flow generation profile."
A company representative said no changes to the parks will be made at this time, and while the company will officially be known only as Six Flags, the names and branding of the parks will remain.
The Wall Street Journal was the first to announce the merger as a roughly $2 billion all-stock deal. It said Six Flags shareholders will receive 0.58 share of common stock in the new company for each share they own, while Cedar Fair unit holders will receive one share for each unit they own.
The announcement confirmed those details, putting the value of the merger at $8 billion based on both companies’ debt and equity values as of Oct. 31.
The combined company will retain Six Flags as its corporate name and trade under Cedar Fair’s ticker, FUN. The merger is expected to close in the first half of 2024, the release said.
“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,” Cedar Fair Chief Executive Officer Richard Zimmerman said in the release.
That includes expanded access to season-pass holders, and greater use of intellectual property — such as Looney Tunes, DC Comics and “Peanuts” — across all parks to deliver a more engaging entertainment experience to guests.
"I have great respect for the Six Flags team and look forward to joining forces as we embark on this next chapter together," Zimmerman said.
'Redefine' the guest experience
“The combination of Six Flags and Cedar Fair will redefine our guests’ amusement park experience as we combine the best of both companies,” Six Flags Chief Executive Officer Selim Bassoul said.
“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."
The new portfolio of the combined company includes 42 parks and nine resort properties across 17 states, Canada and Mexico.
The release said the diversified geographic footprint will offer a more balanced presence in year-round operating climates.
In the Lehigh Valley, Dorney Park's season runs until the end of October.
Locally, looking forward to 'Iron Menace'
Dorney Park spokesman Ryan Eldredge said the park would have no comment Thursday on the merger and that all inquiries will be handled by corporate communications.
But speaking to the park's attendance for the 2023 season, Eldredge said, "We were flat year over year this summer, and if you’ll recall 2022 saw a return to pre-pandemic norms (north of a million in attendance).
"However, it’s still a little too early to say what our full year looked like as we are in the process of evaluating our performance during fall/Halloween offerings," he said.
Much of the talk at Dorney Park & Wildwater Kingdom in 2023 looked ahead to 2024 and the opening of the Northeast's first-ever "dive" roller coaster, featuring a 95-degree drop.
The first pieces of Iron Menace arrived at the park on Oct. 19. It will be the first new roller coaster constructed at the park since Hydra was built in 2005.
Riders will start their journey in the remains of an old steel mill, then climb 160 feet. The coaster then will suspend passengers before a 95-degree drop, looking straight down before a sudden release.
It also will have the first-ever tilted, or inclined, loop on a dive coaster — meaning the train will enter a vertical loop at an angle.
The new ride is being built on the site of the former Stinger roller coaster, north of Dorney Park Road and Lincoln Avenue.
