CBS Corporation to divest Paramount Parks
Saturday, 28 January 2006
The CBS Corporation announced Thursday it intends to divest its Paramount Parks division. The Company indicated that numerous parties have already expressed interest in acquiring the operation, and CBS Corporation expects to complete the divestiture in the second half of 2006.
Paramount Parks currently owns and operates five theme parks in North America, including Paramount's Kings Island in Cincinnati.
Dennis Speigel, president of Cincinnati-based International Theme Park Services told the Cincinnati Post that he figures the prospective buyers will include Cedar Fair L.P., Anheuser-Busch Inc., and also private-equity funds run by investment banking firms.
Cedar Point Trip Planning Q&A
Questions about Cedar Point? Ask a question and let the park's biggest fans help plan your trip.