SANDUSKY, Ohio — Cedar Fair announced Tuesday morning that Cedar Point and Six Flags will merge on July 1. The combined company will be in Charlotte, North Carolina, maintaining significant finance and administrative options in Sandusky, Ohio.
In the press release from Cedar Fair, they stated the combined company will be renamed Six Flags Entertainment Corporation. Trading the combined company's common stock on the NYSE will begin on July 2 under the ticker symbol "FUN."
News 5 Maya Lockett reached out to Cedar Point for a comment on how this merger will impact consumers and employers. An official from Cedar Point said they do not have any additional information until the merger is completed.
Some consumers, like season pass holder Brad Nesbit, are excited about the merge; he says he hopes it will bring more job opportunities for the kids. However, he still has questions and concerns regarding his seasonal pass.
"I want to know whether we would still have the same affordable passes with the dining pleasures that they offer now or if those will increase with the merge. As well as, will we be able to visit other Six Flags properties with our passes?" said Nesbit.
Dr. Sayan Chatterjee is a professor in the design and innovation department at Case Western Reserve University. He said the merger is great for stockholders and could benefit consumers.
"What might happen is if these two companies become more efficient, they can reduce prices, and they can offer more rides," said Chatterjee.
He compares the merger to the Continental and United Airlines merger in 2010.
"Everyone knew that Continental at that time was a better, more well-run company, but because United is more well-known, they took the name of United, and that has worked. So, that would be similar to what you're seeing here," said Chatterjee.
He says there could be potential layoffs if Six Flags does close other locations; however, Six Flags has not announced if the merger will impact other places in the Midwest.
According to the press release, President and Chief Executive Officer of Cedar Fair Richard Zimmerman will serve as President and Chief Executive Officer of the combined company. President and Chief Executive Officer of Six Flags Selim Bassoul will serve as executive chairman of the combined company's board of directors.
"We are fortunate to have a proven team of leaders who bring decades of park operating experience and significant expertise in integrating businesses and achieving synergy targets for the combined company," said Zimmerman. "Their insights and complementary skill sets will be instrumental as we combine two of North America's iconic amusement park companies and forge a new future together."
