Some updates on Cedar Fair happenings
Cedar Fair - (5/24/10) Cedar Fair has announced plans to refinance $1.7 billion in debt through a new credit line, a new billion dollar loan and issuing half a billion in unsecured bonds to investors.
(5/17/10) Last week we were sent a report from a reader who took an online survey that indicated that a major national park chain was getting feedback about possible new pricing options that could include more expensive tickets in exchange for possible benefits like free parking or free soda.
Now according to another reader who was at Cedar Point on opening weekend, they were approached by an employee collecting survey data who asked almost identical questions regarding those very same pricing options. That said, it seems like a logical match that Cedar Fair was likely behind the anonymous online survey as well.
(5/7/10) Cedar Fair has reached an agreement with Q Funding, their largest investor, to add two new members to the Board of Directors, going up from 7 to 9. No word on who they may select, but apparently the search has begun. Hmmm… wonder if I can throw my hat into the mix…
(4/23/10) Now that the deal with Apollo has been put behind them, Cedar Fair has started working on plans to meet with their various lenders to reduce their $1.6 billion debt load any way they can. There is also some talks expected to happen soon between CF and their top investor, Q Investments, who owns 18.1% of the company’s units. No word yet on what this could entail.
(4/17/10) Cedar Fair has announced that they will hold a conference call to discuss the Q1 report on May 6th at 10am (EST). You can listen in online here.
(4/14/10) Cedar Fair has been on a roll this week since bailing out of the Apollo deal. Already this week they’ve filed a lawsuit against the city of Santa Clara and have taken the necessary steps to create a financial Poison Pill to ward off any possible attempt at a hostile takeover. The pill will automatically be triggered when another company has acquired 20% or more of Cedar Fair’s units.
(4/12/10) Following the announcement that the deal between Cedar Fair and Apollo was now off the table, the price of Cedar Fair stock has actually gone up 9.5% to $14.11.
(4/8/10) It has been confirmed that Cedar Fair has pulled out of the deal to be purchased by Apollo. According to CEO, Dick Kinzel, “The board has heard from Cedar Fair unitholders and it is apparent that the merger transaction does not have the required level of investor support.” Cedar Fair will have to pay Apollo $6.5 million to reimburse them for expenses during negotiations.
(3/4/10) Cedar Fair and Rockband have announced a new collaboration that will see something called “Rock Band, Live” brought to various Cedar Fair parks this season. A season-long version of this live interactive show experience will take place at Cedar Point and Canada’s Wonderland while a traveling version of the show will go on tour hitting 9 different parks along the way.
From the sound of things, the ‘preshow’ experience will involve the public playing the Rockband video game, resulting in the top players being invited up onto the stage to rock out with the live band… while you get to play along on your Rock Band plastic instrument. While some have blasted the idea, I think it’s a fun new project myself, and sure as hell to be more enjoyable than yet another American Idol themed show.
The Rock Band, Live tour will begin at Dorney Park over Memorial Day Weekend and slowly work their way Westward. According to the LA Times, the Tour will likely end their run with dates at California’s Great America (July 22 – Aug 1st) and Knott’s Berry Farm (Aug 5 – 15th) according to the LA Times.
(5/17/10) Last week we were sent a report from a reader who took an online survey that indicated that a major national park chain was getting feedback about possible new pricing options that could include more expensive tickets in exchange for possible benefits like free parking or free soda.
Now according to another reader who was at Cedar Point on opening weekend, they were approached by an employee collecting survey data who asked almost identical questions regarding those very same pricing options. That said, it seems like a logical match that Cedar Fair was likely behind the anonymous online survey as well.
(5/7/10) Cedar Fair has reached an agreement with Q Funding, their largest investor, to add two new members to the Board of Directors, going up from 7 to 9. No word on who they may select, but apparently the search has begun. Hmmm… wonder if I can throw my hat into the mix…
(4/23/10) Now that the deal with Apollo has been put behind them, Cedar Fair has started working on plans to meet with their various lenders to reduce their $1.6 billion debt load any way they can. There is also some talks expected to happen soon between CF and their top investor, Q Investments, who owns 18.1% of the company’s units. No word yet on what this could entail.
(4/17/10) Cedar Fair has announced that they will hold a conference call to discuss the Q1 report on May 6th at 10am (EST). You can listen in online here.
(4/14/10) Cedar Fair has been on a roll this week since bailing out of the Apollo deal. Already this week they’ve filed a lawsuit against the city of Santa Clara and have taken the necessary steps to create a financial Poison Pill to ward off any possible attempt at a hostile takeover. The pill will automatically be triggered when another company has acquired 20% or more of Cedar Fair’s units.
(4/12/10) Following the announcement that the deal between Cedar Fair and Apollo was now off the table, the price of Cedar Fair stock has actually gone up 9.5% to $14.11.
(4/8/10) It has been confirmed that Cedar Fair has pulled out of the deal to be purchased by Apollo. According to CEO, Dick Kinzel, “The board has heard from Cedar Fair unitholders and it is apparent that the merger transaction does not have the required level of investor support.” Cedar Fair will have to pay Apollo $6.5 million to reimburse them for expenses during negotiations.
(3/4/10) Cedar Fair and Rockband have announced a new collaboration that will see something called “Rock Band, Live” brought to various Cedar Fair parks this season. A season-long version of this live interactive show experience will take place at Cedar Point and Canada’s Wonderland while a traveling version of the show will go on tour hitting 9 different parks along the way.
From the sound of things, the ‘preshow’ experience will involve the public playing the Rockband video game, resulting in the top players being invited up onto the stage to rock out with the live band… while you get to play along on your Rock Band plastic instrument. While some have blasted the idea, I think it’s a fun new project myself, and sure as hell to be more enjoyable than yet another American Idol themed show.
The Rock Band, Live tour will begin at Dorney Park over Memorial Day Weekend and slowly work their way Westward. According to the LA Times, the Tour will likely end their run with dates at California’s Great America (July 22 – Aug 1st) and Knott’s Berry Farm (Aug 5 – 15th) according to the LA Times.
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