Reuters
Cedar Fair, Six Flags to merge in search of amusement park recovery
(Reuters) -Cedar Fair and Six Flags Entertainment agreed on Thursday to merge to spur a post-COVID-19 pandemic recovery that U.S. amusement park operators have been chasing, as consumers have curbed spending due to an uncertain economic outlook. The tie-up will unite Cedar Fair’s properties, which have a license to use Peanuts characters such as Snoopy and Charlie Brown, with Six Flags’ amusement and water parks, which license Warner Bros and DC Comics characters, such as Bugs Bunny and Batman. The combined company would be worth about $8 billion, including debt, with Cedar Fair shareholders owning 51.2% and Six Flags shareholders owning the remainder, the companies said.