Debts and struggling to pay them off with drastic declining park attendance has led to Cedar Fair to accept an $11.50 per share takeover by a New York equity firm. With debt restructuring and cash pay out of $630 Million it values to about a $2.4 billion deal.

While Six Flags filed for bankruptcy Cedar Fair chose to sell.

http://www.cleveland.com/business/index.ssf/2009/12/cedar_fair_expected_to_be_boug.html

Disappointing to see this happen, but it's a better fate then bankruptcy. Acquired too many parks and built too many new rides while things were good to be able to keep going when the economy tanked. Can't really fault them for it though, no one could see how bad things were going to get. I wonder how it will affect the two parks in Ohio. I doubt it will really effect Cedar Point much since it is the flagship and crown jewel of Cedar Fair.

I don't know if they acquired too many parks as much as when they acquired them. The debt to purchase is acted on based on future cash flow and it's pretty clear how much attendance has dropped recently.

I would think the new owners will try to unload Geauga Lake (or whatever it's called now) quickly (which isn't going to be easy to do). Seemed like that was a real bad deal for Cedar Fair.

cedar point just sold the demon drop but have plans for a new ride, and is already is construction

http://www.thenews-messenger.com/article/20091217/NEWS01/912170307/Cedar-Point-loses-one-ride-adds-another

photos from the construction

http://www.thenews-messenger.com/apps/pbcs.dll/gallery?Avis=BB&Dato=20091216&Kategori=PHOTOGALLERIES&Lopenr=912160802&Ref=PH

a water ride? Really?

Doesn't Cedar Point have enough water rides?

I thought they did.... I don't ride those when I'm there anyway, I'm there for the Coasters

The_Crosby_Show wrote: Doesn't Cedar Point have enough water rides?

As it stands now they have two. Shoot the Rapids will be the third. I've had a season pass the past few summers and the water rides are very popular. On a hot day the lines for the water rides are every bit as long for the main coasters if not longer. I'm personally not a big fan of the water rides, but on a hot day a lot of people are. I bet that cost also played a large role in this decision. Big coasters are very expensive and obviously they didn't have as much money to spend this time around, so they went with a far less expensive ride.

Saw some of the drawings.... looks like its pretty dumb

The_Crosby_Show wrote: Doesn't Cedar Point have enough water rides?

this new one will bring the total to back up to 3, as it basically replaces White Water landing, which was removed when Maverick was built. It'll fill that "go on a water ride, but not get completely soaked" void that's existed since 06

darbypitcher22 wrote: Saw some of the drawings.... looks like its pretty dumb

It does look kind of dumb, but considering it's a water ride I'd say it's pretty good. It's also rumored that Snake River Falls will be gone soon, which would only leave them with one water ride if they didn't build STR. It's not like King's Island where the water park is free and inside the park itself. At CP it's almost another $20 to get into the water park. The biggest issue for CP is that they don't have any more room to work with, unlike King's Island which has acres and acres of land they own that isn't being used to expand onto. Almost every time CP builds a new ride something else has to come out.

From the picture, it almost looks like Congo Falls at KI. (with the way it goes up and wraps around)

A new coaster has been rumored to be in the works as well.. Not for this upcoming season, but 2 or 3 years from now.

This water ride isn't gonna be anywhere close to the rest of them.