Archive for April, 2010

Picnic at the Point (May 16, 2010)

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Combine your park admission with an all-you-can-eat meal on Sunday, May 16! Enjoy broiled Johnsonville brats, hot dogs, baked beans, potato salad, assorted Pepsi beverages, cookies and ice cream. Served from 4-6:30 p.m. in the Coral Courtyard. One entry to the session during the serving time. Junior/Senior ticket available for $30.48. Season Passholder tickets ($10.95 Regular plus tax, $7.50 Junior/Senior plus tax) available at park admission booths.

Click here to purchase the Picnic at the Point Ticket

Cedar Point’s Season Pass Center opens next week

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Cedar Point Press Release

SANDUSKY, Ohio – With Cedar Point’s opening day less than one month away, thrill-seekers can get a jump start on summer fun by purchasing and/or processing their Cedar Point Season Pass or Cedar Fair Platinum Pass before the park opens for its 141st season on Saturday, May 15.

To accommodate the countdown to summer, Cedar Point’s Season Pass Center will now be open Wednesdays through Sundays until Friday, May 14.  Hours will be from 3 p.m. to 7 p.m. Wednesdays, Thursdays and Fridays and 11 a.m. to 7 p.m. on Saturdays and Sundays.  It will be closed on Mondays and Tuesdays.  Beginning Saturday, May 15, the Season Pass Center will be open during the park’s regular operating hours.

Cedar Point Season Pass and Cedar Fair Platinum Pass exchange vouchers must be redeemed for a non-transferable photo ID card before being used for admission to Cedar Point, Soak City waterpark or any other Cedar Fair Entertainment Company amusement or outdoor waterpark.

Back for its third year, the Cedar Fair Platinum Pass is the biggest and best ticket to fun and excitement around.  For only $160, the Platinum Pass includes unlimited admission and free parking at all of the amusement and outdoor waterparks owned by Cedar Fair Entertainment Company, including Cedar Point, Soak City waterpark, Geauga Lake’s Wildwater Kingdom, and Kings Island.  Plus, each park will offer additional benefits that will vary throughout the year. Currently, a four-pack of Platinum Passes are available online at cedarpoint.com for only $150 per pass, a savings of $40.  For a complete listing of Cedar Fair Entertainment Company parks, please visit cedarfair.com.

Cedar Point Season Passes (for guests ages 3-61, 48 inches and taller in shoes) are $112 and are only valid for admission to Cedar Point.  Parking passes for Cedar Point are not available.  For additional savings, a four-pack of Cedar Point Season Passes can be purchased online for $107 each at cedarpoint.com.

Cedar Fair Junior/Senior Platinum Passes (for guests under 48 inches tall in bare feet or age 62 and older at the time of redemption) are $90; Cedar Point Junior/Senior Season Passes are $72.  Children age 2 and under are free.

Cedar Point will open for the 2010 season on Saturday, May 15.  For more information on season pass benefits, guests can visit cedarpoint.com or call 419.627.2309.

Cedar Point’s new build-your-own packages save guests time and money

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Cedar Point Press Release

SANDUSKY, Ohio, April 13 — This summer it will be easy and affordable to stay where you play at Cedar Point’s lakeside accommodations located right next door to the venerable amusement park/resort in Sandusky, Ohio.

For the first time, Cedar Point’s resort properties are offering money-saving Build-Your-Own Packages that can include great deals on admission that are only available to resort guests. Guests can save $15 or more on one-day Cedar Point and Starlight tickets (good after 5 p.m. or earlier).  Plus, new one- and three-day Ride & Slide tickets that include admission to Cedar Point and the Soak City waterpark on the same day, offer savings of more than $37 and $143, respectively.

Another offering exclusively for resort guests is Early Entry when they can enter the park one hour before Cedar Point opens to the public to enjoy select rides like Millennium Force and Raptor.

Cedar Point offers a variety of overnight accommodations ranging from the historic Hotel Breakers to the comfy and convenient Breakers Express and the year-round Castaway Bay indoor waterpark resort.  Overall, Cedar Point’s resort properties feature six outdoor pools, four outdoor spas, an indoor pool, shops, arcades, family-friendly restaurants, beach access and a lakeside boardwalk.

Located midway between Cleveland and Toledo, Cedar Point meets the needs of even the most particular vacationers with rides, roller coasters, special areas for young children and a sandy beach. With 75 rides, including 17 roller coasters, Cedar Point has more rides and more coasters than any park in the world.

New this summer is Shoot the Rapids, an exciting river-ride adventure that features two hills, canyon walls with spraying water and a splashy grand finale.  The park also presents a variety of musicals, a new ice-skating show featuring Snoopy and the Starlight Experience, a themed walkway with more than 1 million LED lights.

Adjacent to Cedar Point, the 18-acre Soak City outdoor waterpark and Challenge Park activity complex with go-karts and miniature golf add another dimension of fun to the mix.

For additional information about this summer’s Cedar Point vacation, please visit cedarpoint.com. or call 419.627.2350.

“Rock Band®, Live” prepares for national tour

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Cedar Fair Press Release

SANDUSKY, OHIO, APRIL 13, 2010 – Cedar Fair Entertainment Company (NYSE: FUN), a publicly traded leader in regional amusement parks, water parks, vacation resorts and entertainment, is gearing up for one of the most anticipated North American summer music tours.

Cedar Fair, along with MTV Games, a part of Viacom’s MTV Networks (NYSE: VIA, VIA.B), will present the “Rock Band®, Live” tour and show at 10 of its parks across the United States and Canada beginning in May.

Members of the media are invited to attend an exclusive sneak peek of the show in New York on Thursday and Friday, April 22 and 23. This “workshop session” will be held at the New 42nd Street Studios with performances starting at 1 p.m. each day.

During the workshop, invited Rock Band fans and special guests will see portions of the actual show and have the opportunity to comment and offer feedback to show producers. Performers, representatives from Cedar Fair, MTV Games and RWS & Associates will be available for interviews. For more information or to RSVP to this special event, please call Tony Clark at 419.627.2225.

So what is “Rock Band, Live”? This unique show combines the high-energy game play action of the popular Rock Band® video games with talented live singers from all over the country. Park guests will even have the opportunity to practice the Rock Band video game prior to each show for a chance to play the game (as the back-up band for the park performers) on stage in front of hundreds of adoring fans.

“Rock Band, Live” is a collaboration between Cedar Fair, MTV Games and RWS & Associates, a full-service entertainment firm that provides custom-produced world-class events and live shows worldwide.

Guests can rock out to two summer-long shows at Cedar Point in Sandusky and Canada’s Wonderland near Toronto. These shows will run June 5 – August 22 and May 29 – September 6, respectively.

Cedar Fair has also announced the “Rock Band, Live” national tour schedule. Exact show dates and times subject to change. See park Web sites for detailed schedules.

May 28 – 31 — Dorney Park in Allentown, Pa.
June 3 – 13 — Kings Island in Cincinnati, Ohio
June 17 – 27 — Valleyfair in Shakopee, Minn.
July 1 – 11 — Carowinds in Charlotte, N.C.
July 15 – 18 — Worlds of Fun in Kansas City, Mo.
July 23 – August 1 — California’s Great America in Santa Clara, Calif.
August 5 – 15 — Knott’s Berry Farm in Buena Park, Calif.
August 20 – 29 — Kings Dominion in Doswell, Va.

“This show is really going to raise the bar on family entertainment,” said Charles Bradshaw, vice president of live entertainment for Cedar Fair. “It’s unlike anything we’ve ever done at our parks. Not only can families enjoy a great live show, but they now have the chance to be a part of it with the help of the Rock Band video game. It’s literally going to rock!”

For more information on the “Rock Band, Live” show, the national tour and the summer-long shows at Cedar Point and Canada’s Wonderland, visit cedarfair.com/rockbandlive.

About MTV Networks
MTV Networks, a division of Viacom (NYSE: VIA, VIA.B), is one of the world’s leading creators of entertainment content, with brands that engage and connect diverse audiences across television, online, mobile, games, virtual worlds and consumer products. The company’s portfolio spans more than 150 television channels and 350 digital media properties worldwide, and includes MTV, VH1, CMT, Logo, Harmonix, Nickelodeon, Nick at Nite, Noggin, The N, AddictingGames, Neopets, COMEDY CENTRAL, Spike TV, TV Land, Atom, Gametrailers and Xfire.

About MTV Games
MTV Games is dedicated to creating, marketing and publishing high-quality, innovative interactive products that are relevant to the MTV audience and complement the core values of the MTV Networks brands.

About RWS & Associates
RWS & Associates is an Emmy®-Award-winning full service entertainment firm headquartered in New York City. RWS provides high quality, custom-designed and pre-packaged entertainment throughout the world in theme parks, resorts, shopping centers and more.

About Cedar Fair Entertainment Company
Cedar Fair Entertainment Company (NYSE: FUN) is a publicly traded partnership headquartered in Sandusky, Ohio. The Partnership, which owns and operates eleven amusement parks, six outdoor water parks, one indoor water park and five hotels, is one of the largest regional amusement park operators in the world. Its parks are located in Ohio, California, North Carolina, Virginia / District of Columbia, Pennsylvania, Minnesota, Missouri, Michigan, and Toronto, Ontario. Cedar Fair also operates the Gilroy Gardens Family Theme Park in Gilroy, California under a management contract. Cedar Fair’s flagship park, Cedar Point, has been voted the “Best Amusement Park in the World” for twelve consecutive years in a prestigious annual poll conducted by Amusement Today newspaper.

New options allow Cedar Fair to fight hostile takeover

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From the Sandusky Register

SANDUSKY

Apollo’s takeover bid may be gone, but Cedar Fair officials already are preparing for another possible takeover attempt.

The amusement park chain has prepared a poison pill to feed any would-be predator trying to gobble up the company in a hostile takeover bid.

The company filed the poisonous rights plan this week.

It was created “to ensure that all unitholders receive fair and equitable treatment in the event of any hostile takeover attempt to gain control of the company,” Cedar Fair leaders explained in a news release.

Cedar Fair filed documents with the Securities and Exchange Commission explaining the rights plan would be triggered if any company acquired 20 percent of more of Cedar Fair’s outstanding units. The plan has several provisions designed to make it harder to take over Cedar Fair against the wishes of the company’s management.

Under one scenario, for example, each current unitholder would have the right to buy $20 worth of additional units for each unit the investor owns, at a price that’s essentially a two-for-one deal.

“Assuming a value of $10 per unit at such time, the holder of each valid right would be entitled to purchase four units for $20,” the document states.

Adding more units would dilute the ownership of the company attempting the takeover.

Such poison pill options are rarely exercised. The point is to force any company trying to take over Cedar Fair to negotiatiate with the company.

The provision also buys Cedar Fair time to consider its options as it attempts to deal with $1.6 billion of debt, said Jeremy Jacobs, a Cedar Fair spokesman.

“The company is aware that the credit markets seem to be improving and it’s talking with its banks in that context to see how they can address the capital structure to the benefit of unitholders,” Jacobs said.

Cedar Fair carries $1.54 billion of term debt, $640 million that matures in 2012 and $900 million that matures in 2014, said Stacy Frole, director of investor relations for Cedar Fair.

“The rights plan was not adopted in response to any specific effort to acquire control in the company,” Frole said.

Texas investment banker Geoffrey Raynor holds about 18 percent of Cedar Fair’s outstanding units, much of them through Raynor’s company, Q Funding.

On Tuesday, the same day the Apollo and Cedar Fair deal fell through, Q Funding filed an SEC document stating that it had been approached by “certain holding company bondholders” to discuss the possibility of merging Cedar Fair with Six Flags.

“It became apparent … that these holding company bondholders were likely going to control Six Flags, Inc. and, since then, there have not been any additional conversations with such bondholders,” the document said.

The document didn’t identify the bondholders and a spokesman for Q Funding declined comment.

The Reuters news agency has reported that a group led by Stark Investments is poised to take control of Six Flags under a new restructuring plan filed by the bankrupt company.

The speculation about Six Flags and Cedar Fair hasn’t hurt Cedar Fair’s unit price. The closing price Wednesday was $12.87, up 50 cents from the closing price the day before.

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