The companies that own the Magic Mountain and Knott's Berry Farm theme parks are merging in an $8 billion deal that will consolidate dozens of theme and water parks across the country.
The announcement was made on Thursday.Six Flags, which owns Magic Mountain in the Santa Clarita Valley, and Cedar Fair, which owns Knott's Berry Farm in Buena Park, operate a combined 27 amusement parks and 15 water parks in the United States, Canada and Mexico.Cedar Fair said the new company will provide opportunities to increase investments in the parks, which could translate into higher demand, according to media reports.
Disneyland recently announced a $60 billion investment in its parks to expand and add attractions. Walt Disney World and Universal Orlando in Florida experienced reduced attendance and shorter wait times over the summer for a number of reasons, including extreme weather and heat and a tense political atmosphere in the state.
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