The merger of Six Flags and Cedar Fair will create a massive theme park company valued at over $3.5 billion

An extensive amusement park operator with operations spanning 17 U.S. states and three countries will be created by the merger of Cedar Fair and Six Flags.

The combined firm, valued at over $3.5 billion, will have nine resort sites spread across the United States, Canada, and Mexico, in addition to 27 amusement parks and 15 water parks. Along with entertainment agreements, it will have a portfolio of intellectual property that includes Peanuts, DC Comics, and Looney Tunes.

Even while other entertainment industries have recovered, amusement parks have failed to increase attendance since the pandemic, despite an increase in revenue.

In the third quarter, Cedar Fair saw 12.4 million visitors, up 1% from the same period the previous year. With 9.3 million visitors in the third quarter, Six Flags reported a 16% increase in attendance.

As per the agreement revealed on Thursday, shareholders of Six Flags would receive 0.5800 shares of stock in the combined firm for each share owned, while owners of Cedar Fair units will receive one share of common stock in the combined company for each unit owned.

Six Flags shareholders will own roughly 48.8% of the merged corporation, while Cedar Fair unitholders will possess roughly 51.2%.