Canada's Wonderland sold in $1.2 billion deal
CTV.ca News Staff
Canada's Wonderland has been sold by CBS Corp. - the owner of Paramount Parks -- to an Ohio-based amusement park operator as part of a $1.24 billion deal.
Cedar Fair will take control of the Toronto amusement park sometime in the third quarter of 2006, according to a written statement from CBS Corp.
The sale is part of CBS Corp's divestiture of its' Paramount Parks division. Cedar Fair owns and operates seven amusement parks and five water parks. The sale adds five parks to Cedar Fair's roster.
"This transaction offers a unique opportunity for us to acquire a world-class asset portfolio," Cedar Fair's president Dick Kinzel said in a written statement on Monday.
Paramount Parks will continue to operate Canada's Wonderland until the deal closes and Cedar Fair takes control. It is not known if the park's name will change.
Canada's Wonderland will be the only park operated by Cedar Fair outside the U.S.
The company's flagship park, Cedar Point, is located on Lake Erie between Cleveland and Toledo, Ohio. Other parks are located in Pennsylvania, Minnesota, Missouri, Michigan and California.
does this mean the rides are gonna start malfucntioning and kill people!?
I like Canadas Wonderland because of its stellar safety record,,,,
so are they going to move it? and make it better?
Donno yet, if anything we'll get the Wb's looney toons running round, and if anything a re-naming of rides
they should rename the mind buster to the ball buster. That's one bumpy ride!
Hey -- I like Cedar Point -- awesome rides....
OAC_Sparky,May 23 2006, 07:04 PM Wrote:Hey -- I like Cedar Point -- awesome rides....
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Going there with the famdamily the last week of June.
I golf, they ride.
The perfect family.
We spend alot of time apart. :D
You're my hero Meford, I will model my family after yours. :)
Hrm, interesting, having been an employee there way back when the park was owned by Hanna Barbera way back in the day it amuses me to see the park now changing hands so rapidly :P
NefCanuck
nass,May 23 2006, 07:33 PM Wrote:You're my hero Meford, I will model my family after yours. :)
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Just get your wife to dispise you so much that she is willing to work longer hours, take on 2 other jobs, and when she wants to get rid of you she says why don't you____________-insert whatever you want to do........today. :D :D
Does this mean we are getting really big new roller coasters. I love roller coasters. And we all know that Canadas Wonderland needs a new big coaster to replace the Dragon Flyer.
I can't wait to see what they change in the amusement department first!!!!
Yeah.. more rollercoasters!!
Top Gun, and Tomb Raider are fun enough.. more of them would be cool.
And they gotta make it louder and bigger... make the idiots that have bought houses so close it realize their stupidity.
bah those people with the houses would just take it to court and probably win and force the park to be quieter or something stupid. That park's location was good about 20 years ago but the city just swallowed it up. I think the only way to survive is to pick it up and move it elsewhere.
nass,May 23 2006, 11:23 PM Wrote:I think the only way to survive is to pick it up and move it elsewhere.
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Funny you should mention that. I've heard a few rumours that there's plans to move the whole park to woodstock. I think the thinking was that putting it in woodstock would make it more attractive to american tourists than where it is now.
habmann,May 23 2006, 11:33 PM Wrote:nass,May 23 2006, 11:23 PM Wrote:I think the only way to survive is to pick it up and move it elsewhere.
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Funny you should mention that. I've heard a few rumours that there's plans to move the whole park to woodstock. I think the thinking was that putting it in woodstock would make it more attractive to american tourists than where it is now.
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It's
Canada's Wonderland, not
America's Wonderland.
I hope they don't move it.. I, as a season's pass holder enjoy the fact that it's a mere 45 minute drive for me.
If they move it to woodstock.. how does that get it closer to the americans? and the way houses have been sprouting up out west, it's only a matter of years before that entire area is engulfed as well.
but if they move to an area with a lot of free land they can purchase a lot more land around the park for the future especially since a much larger american company owns it. Something tells me that the previous owners couldn't afford to purchase more land around the park before the houses went up, that or the city didn't allow them to which is silly but anyways.
Canada's Wonderland has always had the same footprint and land locked since day 1. It would have never expanded across major thoroghfares as the 400, Major Mac, and Jane Street. Directly to the south there is an old house that is occupied that has been there since before the park.
Any new additional rides have been filled into any empty space or over ponds and through the faux mountain.
All of the new housing has been on the other sides of those thoroughfare and to the south and west of the original house.
I am pretty sure that every house built with a 5 km radius of the park has clauses about additional noise from being in close proximity of this amusement park. I have owned 2 houses near the park and both had this clearly stated in purchase agreement. Even in the current house that is approximately 4 km away. The only noise I have heard is the faint thunder of the fireworks display 2 or 3 times of year.
I hate how every Canadian company (or whatever) gets bought about by Americans.