Cedar Fair remains mum on possible sale of Six Flags

Friday, 26 August 2005

By BRANDI BARHITE
brandibarhite@sanduskyregister.com

SANDUSKY - Cedar Fair officials will not speculate on the possible sale of Six Flags, Inc., the world's largest regional theme park company.

"What they are going to do is clearly a question for them, said Vice President and Corporate Controller Brian Witherow on Thursday.

As for Cedar Fair's interest in the company, "I can't confirm or deny if we will have an interest in buying Six Flags," Witherow said.

Six Flags reported Thursday its plans to pursue a "prompt and orderly auction" process, and invited Daniel Snyder to participate in the process, according to a press release.

Snyder, the owner of the National Football League's Washington Redskins, has a "serious interest" in acquiring the company, the release stated.

The board was wary of what appeared to be an attempt to take over the company by Snyder recently.

"The board believes that initiating a sale process at this time is the best way to deliver full and fair value to all Six Flag stockholders," wrote Michael Gellert, presiding independent director of Six Flags' Board of Directors.

Witherow said Cedar Fair parks do not compete with Six Flags parks, with the exception of Dorney Park & Wildwater Kingdom, near Allentown, Pa.

The only Six Flags park in Ohio is Wyandot Lake, near Columbus.

In 2004, Cedar Fair bought the Six Flags park in Aurora, Ohio, that was competing against Sandusky's Cedar Point.

Since then, Six Flags Worlds of Adventure, became Geauga Lake.

At the time of that sale, Six Flags, had been beset by financial problems, and said it would take several years and meaningful capital investments to improve park performance.

Six Flags officials could not be reached for comment Thursday.

According to its Web site, Six Flags owns and operates 30 parks in North America.

FunCoast.com is your online guide to summer fun for Cedar Point, the LakeErie Islands and Sandusky area. Our site offers up-to-date information on area attractions, restaurants, hotels, gasoline prices, ferry schedules, swimming, birding and fishing, along with a complete listing of events happening in the Sandusky/Cedar Point area. To use our Webcam and zoom in on Cedar Point's rollercoasters, go to http://funcam.funcoast.com

Copyright 2005 the Sandusky Register. All rights reserved.

All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of the Sandusky Register or FunCoast.com. You may not alter or remove any trademark, copyright or other notice from copies of the content.