CBS to Sell Five Paramount Theme Parks

CBS to Sell Five Paramount Theme Parks

Post by lkgeo » Mon, 30 Jan 2006 03:55:51


CBS to Sell Five Paramount Theme Parks

C***TE, N.C. (Jan. 27) - CBS Corp. has announced plans to sell its
Paramount Parks division, whose five parks in Santa Clara, Calif., and
four other U.S. and Canadian locations draw more than 12 million
visitors a year.

"Numerous parties" have already expressed interest in the business,
said CBS, which expects to sell the unit during the second half of
2006. No potential bidders were named in a CBS statement issued late
Thursday.

The five theme parks will operate normally while a sale is negotiated,
CBS said.

A spokesman for CBS, Dana McClintock, told The C***te Observer that
the division no longer fits in with the company's focus on core media
content.

Besides Paramount's Carowinds in C***te, the unit operates Canada's
Wonderland in Toronto, Great America in Santa Clara, Kings Dominion in
Richmond, Va., and Kings Island in Cincinnati.

The parks were part of a recent corporate split-up of the diversified
media conglomerate formerly known as Viacom.

That split, completed Jan. 1, separated the company into CBS Corp. and
Viacom Inc., with the Paramount Parks becoming part of CBS and the
Paramount movie studio staying with Viacom. The aim was to create one
company focused on broadcast television, the other on cable networks.

Sumner Redstone, who built Viacom into one of the largest of the media
conglomerates, said last summer that the age of such companies had
ended.

Remaining properties of CBS Corp. include the CBS network, a 50 percent
share of the new CW network being formed from UPN and The WB, the
Showtime cable network, CBS Radio, various local television stations,
the Paramount Television and King World production and syndication
units, publishing company Simon & Schuster and divisions devoted to
digital media, consumer products and outdoor advertising.

01-27-06 21:58 EST

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by Mark Rosenzwei » Mon, 30 Jan 2006 04:21:00

NEW YORK, Jan 27 (Reuters) - Six Flags (PKS.N: Quote, Profile,
Research) on
Friday said it planned to sell its theme parks in Oklahoma City and
close
offices there as part of its streamlining efforts.
"We continue to evaluate every asset in the Six Flags portfolio," Chief

Executive Mark Shapiro said in a statement.

Six Flags recently went through a shake-up in its top management and
board
after investor Daniel Snyder won a long-running battle for the
company's
control.

Snyder, who also owns the Washington Redskins football team, said at
the
time that he planned to turn around the company, whose profit and stock

price have lagged in recent years.

Shapiro, a former executive at Walt Disney Co.'s (DIS.N: Quote,
Profile,
Research) ESPN unit, was named Six Flags chief executive after Snyder
took
control of the company.

The sale of Frontier City, a Western-themed amu***t park, and water
park
White Water Bay will be handled by Staubach Co. and is expected to take

effect after the 2006 season, Six Flags said. The season ends in
October.

Staubach Co. is run by former Dallas Cowboy quarterback, Roger
Staubach, one
of the Washington Redskins' fiercest competitors.

Six Flags also said it planned to consolidate corporate operations,
expanding its presence in New York.

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by lkgeo » Mon, 30 Jan 2006 10:17:47

THANKS , THIS CHART SAYS IT ALL:
http://finance.yahoo.com/q/bc?t=1y&s=PKS&l=on&z=m&q=l&c=FUN

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by Mark Rosenzwei » Mon, 30 Jan 2006 11:56:30

Quote:

> THANKS , THIS CHART SAYS IT ALL:
> http://finance.yahoo.com/q/bc?t=1y&s=PKS&l=on&z=m&q=l&c=FUN

Six Flags to Close AstroWorld Theme Park in Houston and Sell 109-Acre
Site; Increased Real Estate Value Of Site Prompts Disposition

NEW YORK--(BUSINESS WIRE)--Sept. 12, 2005--Six Flags, Inc. today
announced that it will permanently close its AstroWorld theme park in
Houston at the end of the 2005 season, and that it has engaged Cushman
& Wakefield to market the 109-acre site to the real estate development
community. The sale is subject to the approval of Six Flags' bank
lenders.

The company said it expects a sale would yield significant proceeds
given the property's size and location within a revitalized and dynamic
area of the city and its proximity to so many of Houston's civic,
healthcare and business enterprises. Proceeds from the sale would be
used for debt reduction and general corporate purposes, the company
said.

The company said a disposition compares very favorably with other
alternatives for the 37-year-old park, such as making significant
additional investment to improve the park's performance by upgrading
facilities and adding new rides and attractions. Among the factors that
favored a sale were the park's relative performance over the past
several years and continued uncertainty over offsite parking rights
related to Reliant Stadium and the Texans football team and the Houston
Livestock Show & Rodeo, the company said.

"We are always looking for opportunities to enhance shareholder value.
In assessing the performance of this property relative to the
significant increase in real estate values in the Houston market, we
concluded that the best way to unlock this value for shareholders was
to pursue a sale of the property," said Kieran Burke, chairman and CEO
of Six Flags. "While we continually review our properties in order to
determine the best allocation of resources, it is important to note
that a unique set of circumstances applies to the AstroWorld property
and this action should not be considered indicative of our intentions
for any of our other parks."

As previously announced on August 25, 2005, the company's Board of
Directors has initiated a process to seek proposals from third parties
regarding a possible sale of the company. Today's announcement
regarding the AstroWorld property has no impact on the company's sale
process, which is ongoing.

The AstroWorld site is located near Reliant Park, Houston's major
sports, entertainment and exhibition center, the museum district and
the Texas Medical Center and is immediately adjacent to the city's new
light rail system's Fannin South Station.

The company said 119 permanent jobs will be lost as a result of the
closure, with a number of employees likely to be offered jobs at other
Six Flags properties. The park also employs approximately 1,500 workers
on a seasonal basis. The 2005 seasonal staff will not be affected.

Six Flags said it retains a significant presence in Houston with its
Six Flags SplashTown water park, which is located on another site in
the city and is expected to be enhanced with equipment from AstroWorld.
Six Flags will also continue to serve the market with its parks in San
Antonio and Arlington.

"We had a great run with AstroWorld and have been proud to serve as a
family entertainment venue in the community for so many years," said
Mr. Burke. "We are grateful to everyone who visited, worked and
supported AstroWorld, and we look forward to serving Houstonians at Six
Flags SplashTown and other nearby Six Flags parks. We are very
encouraged by the prospect that the site has great potential for
economic development and are hopeful this sale will ultimately result
in significant job creation and economic activity for the city of
Houston."

SIX FLAGS and all related indicia are trademarks of Six Flags Theme
Parks, Inc. (R), (TM) and (C) 2005.

VOLLMER Public Relations
Carolyn Mayo, 713-970-2100
or
Six Flags Public Relations
Debbie Nauser, 405-475-2500 x288
or
Joele Frank, Wilkinson Brimmer Katcher
Jeremy Jacobs, 212-355-4449 x130
or
Six Flags
James F. Dannhauser, 212-599-4693

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by NoGodForM » Mon, 30 Jan 2006 12:32:32

Should of been seperate posts.

Now people will be total screwed up in what they're talking about.

PARAMOUNT PARKS ARE BEING SOLD TO AN UNKNOWN BIDDER TO BE ANNOUNCED IN
THE MIDDLE OF THE SUMMER.

Just ***ing dandy.   Like I'm going to visit.

You know, the problem with the paramount parks, is they tried to
straddle that line with Family and Thrill, and went to the Family (dark)
side too much.   The problem with Paramount parks, is the midways were
all CONCRETE, with stupid games everywhere like a carnival.  It never
made me feel comfortable.    I wrote them about this, but of coarse they
didn't listen.

SIX FLAGS ASTROWORLD IS GONE.

And why not?   SFoT is the main park.  Why have 3 parks in Texas?

Astroworld was always the step child.

Gosh, there's none in Florida.

So much to talk about.

WE'RE SEEING MAJOR CHANGES THIS YEAR RIGHT BEFORE OUR EYES.

Coaster fans were always right.  The ***ing A-listers and CFB posters
are wrong.    Always talking about the family rides.  Yeah, look at what
it did for Paramount.    Yes, I know balance is the key, but Paramount
went to the family side too far.

Example.   HW has 2 woodies in the top 10.   Gee, why are they building
The Voyage?

If you think like Paramount or SF, they wouldn't need it.   Yet, HW is
building a 3RD WOODIE and people are going to flock there like a magnet.

What does that tell you?

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by CoasterHate » Mon, 30 Jan 2006 13:01:25

It tells me that you need to get yourself another ice cold beer and
think up some new lines to the same old song that you keep singing. Is
there some toilet that you need to go take a picture of or something?
 
 
 

CBS to Sell Five Paramount Theme Parks

Post by NoGodForM » Mon, 30 Jan 2006 13:19:58

Quote:

> It tells me that you need to get yourself another ice cold beer and
> think up some new lines to the same old song that you keep singing. Is
> there some toilet that you need to go take a picture of or something?

Yeah, I know.

But, I want YOU to add something to the conversation besides a flame.

You're not allowed to flame me, unless you post your view point of the
first post.

It doesn't have to be about what I said.

You can talk about the first two posts, fine.

BUT HAVE A TAKE.

I hate it when people posts empty flames.

Now, read the first two posts and make a comment.

This is why message boards and RRC die.  Because people are too scared
to talk about the issues.

Now, YOU certainly have an opinion about everything just stated.
Well, post it.

Go ahead, called me a ***ing*** head, fine.  But at least post a
comment about what you think about Paramount selling all parks and SF
selling Astroworld.

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by NoGodForM » Mon, 30 Jan 2006 14:45:26

Quote:

> Dude, why do you think paramount 'went to the dark side' by going the
> kiddie route?  In case you didn't know, 2 Paramount Parks are at the
> top of the list when you look at season attendance numbers.  I don't
> yet think you realize that they dont' care if us enthusiasts go to
> parks, they're getting their attendance from families and kids.  If
> that is what makes your business money, then they'd be stupid not to
> stick with it.

> As for the sale, as long as it doesn't affect the way the parks are
> currently run, I'm all for it.  I like Paramount Parks and would spend
> countless days at any of their parks.

Ah, perfect example of a CFB user.

Family rides all the way.  No problem.  That's what everyone wants.
Jeff said so.

No need to look at those long lines for the THRILL RIDES at other parks.
  Naw, just talk about the family thing, and say that's what everyone
wants.

Yep, Scooby Doo Dark ride, cool.
TR TR, Yes, even if they don't tell us about it.
ISJT, wow, a kiddie ride with special effects that only work on opening
day, wow, what could a fan ask for.

Not like this is going to get out to everyone, like people don't read
this shit, because I'm only .000000000000001 percent of all fans, yet
the things I talk about usually come true.  Yep, you got it.

Here, I'll sum it up.

Jeffrey Siebert, YOU SUCK.

YOUR DECISIONS WERE WRONG.  YOU ***ING*** HEAD.     I TOLD YOU SO.

WROTE YOU A LETTER SAYING TR TR WAS A JOKE.

What did the*** head do?   Say that us coaster fans were being mean.
And CFB  even supported it.

WELL, WHAT ARE YOU SAYING NOW CFB?

***ing***s.

You deserve it.

No one else but me will come back and say "I TOLD YOU SO."

Well, I just did.

Now bow down and suck my***.

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by Dave Althoff, Jr » Mon, 30 Jan 2006 14:48:35

: Go ahead, called me a ***ing*** head, fine.  But at least post a
: comment about what you think about Paramount selling all parks and SF
: selling Astroworld.

Okay, Mr. Shpxvat Qvpx Urnq...

First of all, Paramount isn't selling the parks, CBS is. Paramount Parks
got moved into the CBS division when Viacom split up the business units,
and CBS doesn't want to be in the park business.  It has nothing to do
with whether the parks are successful or not, and everything to do with
CBS preferring to concentrate on its core businesses, which does not
include the parks.  

It is interesting, though...NBC, ABC, CBS, and PBS are all in some way
affiliated with the amu***t business.  Not sure about Fox...and CBS
wants out.  NBC may want out as well; don't be surprised when that sale
happens.

As for AstroWorld, that was a tragedy brought on by Six Flags'
unsuccessful attempt to protect itself from being taken over by Snyder
and Co.

--Dave Althoff, Jr.
    /X\        _       _               _*** Ride safely in 2006!! ***
   /XXX\      /X\     /X\_      _     /X\__      _     _        _____
  /XXXXX\    /XXX\   /XXXX\_   /X\   /XXXXX\    /X\   /X\      /XXXXX
_/XXXXXXX\__/XXXXX\/XXXXXXXX\_/XXX\_/XXXXXXX\__/XXX\_/XXX\_/\_/XXXXXX

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by Dave Althoff, Jr » Mon, 30 Jan 2006 14:58:07

: THANKS , THIS CHART SAYS IT ALL:
: http://finance.yahoo.com/q/bc?t=1y&s=PKS&l=on&z=m&q=l&c=FUN

Funny what a little perspective will do...look at this one:
http://finance.yahoo.com/q/bc?s=PKS&t=5y&l=on&z=m&q=l&c=FUN

Remember, those charts are normalized to the start of the charting
period.  PKS has a lot of catching up to do.

--Dave Althoff, Jr.
    /X\        _       _               _*** Ride safely in 2006!! ***
   /XXX\      /X\     /X\_      _     /X\__      _     _        _____
  /XXXXX\    /XXX\   /XXXX\_   /X\   /XXXXX\    /X\   /X\      /XXXXX
_/XXXXXXX\__/XXXXX\/XXXXXXXX\_/XXX\_/XXXXXXX\__/XXX\_/XXX\_/\_/XXXXXX

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by Joe Schwart » Mon, 30 Jan 2006 15:50:27

Quote:

> You're not allowed to flame me, unless you post your view point of the
> first post.

Bzzzt, wrong answer, but thanks for playing.

  http://www.ysati.com/

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by NoGodForM » Mon, 30 Jan 2006 15:51:24

Quote:


> : Go ahead, called me a ***ing*** head, fine.  But at least post a
> : comment about what you think about Paramount selling all parks and SF
> : selling Astroworld.

> Okay, Mr. Shpxvat Qvpx Urnq...

> First of all, Paramount isn't selling the parks, CBS is. Paramount Parks
> got moved into the CBS division when Viacom split up the business units,
> and CBS doesn't want to be in the park business.  It has nothing to do
> with whether the parks are successful or not, and everything to do with
> CBS preferring to concentrate on its core businesses, which does not
> include the parks.  

> It is interesting, though...NBC, ABC, CBS, and PBS are all in some way
> affiliated with the amu***t business.  Not sure about Fox...and CBS
> wants out.  NBC may want out as well; don't be surprised when that sale
> happens.

> As for AstroWorld, that was a tragedy brought on by Six Flags'
> unsuccessful attempt to protect itself from being taken over by Snyder
> and Co.

> --Dave Althoff, Jr.
>     /X\        _       _               _*** Ride safely in 2006!! ***
>    /XXX\      /X\     /X\_      _     /X\__      _     _        _____
>   /XXXXX\    /XXX\   /XXXX\_   /X\   /XXXXX\    /X\   /X\      /XXXXX
> _/XXXXXXX\__/XXXXX\/XXXXXXXX\_/XXX\_/XXXXXXX\__/XXX\_/XXX\_/\_/XXXXXX

Perfect.

Just proves the point that

ALL PARKS CAN'T BE SUPPORTED BY LOCALS.

I got flamed for that so many times in previous years.

I was only ONE so what did it matter if I showed up or not.

OK, So why did Guague Lake fail, Why did CP fail, why did Paramount fail
and why did SF fail?

Now, you're probably saying, CP didn't fail, um, yes, they did.
Practially gave away the gate at the end of 2005.

Just face it, the locals can't support the parks.  They need DESTINATION
TRAVELERS LIKE ME to get my ***on a plane, fly up there, and visit.

Without me, the parks are dead.

If the parks put in family rides or nothing, then I don't visit.

Simple as that.

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by Kip Ros » Mon, 30 Jan 2006 16:04:14



Quote:

>> You're not allowed to flame me, unless you post your view point of the
>> first post.

>Bzzzt, wrong answer, but thanks for playing.

>  http://www.ysati.com/

Joe, you could also have directed him towards this:

http://tinyurl.com/8cmgy

-kip-

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by Wolf » Mon, 30 Jan 2006 19:24:56

Quote:
> : Go ahead, called me a ***ing*** head, fine.  But at least post a
> : comment about what you think about Paramount selling all parks and SF
> : selling Astroworld.

> Okay, Mr. Shpxvat Qvpx Urnq...

Fhpu ynathntr!

--
|\-/|
<0 0>
=(o)=
-Wolf

 
 
 

CBS to Sell Five Paramount Theme Parks

Post by Josh Herringto » Mon, 30 Jan 2006 22:40:31

I nominate the following post for "Post of the Year" for 2006. :-)

~josh


Quote:

>> Dude, why do you think paramount 'went to the dark side' by going the
>> kiddie route?  In case you didn't know, 2 Paramount Parks are at the
>> top of the list when you look at season attendance numbers.  I don't
>> yet think you realize that they dont' care if us enthusiasts go to
>> parks, they're getting their attendance from families and kids.  If
>> that is what makes your business money, then they'd be stupid not to
>> stick with it.

>> As for the sale, as long as it doesn't affect the way the parks are
>> currently run, I'm all for it.  I like Paramount Parks and would spend
>> countless days at any of their parks.

> Ah, perfect example of a CFB user.

> Family rides all the way.  No problem.  That's what everyone wants. Jeff
> said so.

> No need to look at those long lines for the THRILL RIDES at other parks.
> Naw, just talk about the family thing, and say that's what everyone wants.

> Yep, Scooby Doo Dark ride, cool.
> TR TR, Yes, even if they don't tell us about it.
> ISJT, wow, a kiddie ride with special effects that only work on opening
> day, wow, what could a fan ask for.

> Not like this is going to get out to everyone, like people don't read this
> shit, because I'm only .000000000000001 percent of all fans, yet the
> things I talk about usually come true.  Yep, you got it.

> Here, I'll sum it up.

> Jeffrey Siebert, YOU SUCK.

> YOUR DECISIONS WERE WRONG.  YOU ***ING*** HEAD.     I TOLD YOU SO.

> WROTE YOU A LETTER SAYING TR TR WAS A JOKE.

> What did the*** head do?   Say that us coaster fans were being mean. And
> CFB  even supported it.

> WELL, WHAT ARE YOU SAYING NOW CFB?

> ***ing***s.

> You deserve it.

> No one else but me will come back and say "I TOLD YOU SO."

> Well, I just did.

> Now bow down and suck my***.