Six Flags to Buy Out SeaWorld?

[PWT]

(Reuters) - SeaWorld Parks and Entertainment, which is exploring a sale, has attracted early buyout interest from private equity firm Apollo Global Management LLC (APO.N) and amusement park operator Six Flags Entertainment Corp (SIX.N), according to three people familiar with the matter.

Orlando, Florida-based SeaWorld, controlled by private equity firm Blackstone Group LP (BX.N), filed for an initial public offering in December but is also in talks with potential buyers in what is known as a "dual track" process, Reuters reported previously.

Apollo, which got into the resort and leisure business with its $262 million acquisition of Great Wolf Resorts in 2012, and Six Flags, the largest regional theme park operator in the world, are among several potentially interested parties, according to the sources.

The process is largely limited to a small group of industry players that have experience in the sector, one source said.

A deal could value SeaWorld, known for its killer whale mascot Shamu, at about $4 billion, based on the financials of its publicly listed peers, such as Six Flags and Cedar Fair LP (FUN.N).

Blackstone acquired SeaWorld from beer giant Anheuser-Busch InBev SA (ABI.BR) for $2.3 billion in December 2009, according to Blackstone's website.

Blackstone and Apollo declined to comment, while Six Flags was not immediately available. The sources asked not to be named because the process is not public.

A public offering for SeaWorld remained the more likely route since it would come at a time when shares for amusement park operators are trading at healthy levels, one source said.

Established operators in the U.S. theme park industry host about 315 million visitors per year and have proven resilient in a weak economy as parents still turn to them for family vacations.

SeaWorld owns 11 theme parks, including those with the SeaWorld, Busch Gardens and Sesame Place brands, and cares for more than 67,000 animals.

(Reporting by Soyoung Kim and Olivia Oran in New York; Editing by Jeffrey Benkoe)

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[Smitty]

No no no no no no no noooo!!!!!!

 

[coasterj]

Oh I really hope not SF would do nothing but ruin these parks, this would be sad their parks are run down, trashy, and every time I have been their rides have been barely running

 

[Hockeyman55]

For the love of god I hope this doesn't happen

 

[grizzlybarely]

I can see it now. Big Scary Great White Shark: The Ride, Laser Fish, E-e-e-e-e-*dolphin sound*-extreme!!!!!

 

[coasterj]

I can see it now. Big Scary Great White Shark: The Ride, Laser Fish, E-e-e-e-e-*dolphin sound*-extreme!!!!!

:happy:



Be lucky if all the parks were still open 3yrs after they buy it, let alone have rides. Old six flags was a great company rivaling universal in its hayday but now it is in massive debts and has no great leadership to be found all they do is pour money into it with no purpose then to money grab and move rides while calling them new.....

 

[Eric]

A lot of six flags' parks have actually improved significantly. I find them to be close to Cedar Fair parks now in terms of service and park quality.

I definitely don't see this as a good thing though. The direction in which Sea World is going is very encouraging and I would hate to see that change.

 

[ChrisM]

That's dreadful news!! Just when I start to become interested in Sea World and the direction they are going in, this happens! lol. I really hope Six Flags doesn't acquire it. What are the chances Universal would drop the cash to buy them??

 

[jtsalien]

And in the end Disney swoops in to buy them and it breaks the internet.

 

[StarTrekGeek]

Hey, maybe we'll finally see Gwazi get the Iron Horse treatment!

That said, I will shocked this happens. It will be pretty disastrous competition-wise: SeaWorld San Antonio and Six Flags Fiesta Texas are in the same area. SeaWorld San Diego also isn't too far from Six Flags Magic Mountain. Hmmm... two parks in the same area owned by the same company? We know how well that went out with Cedar Point and Geauga Lake...

Plus, Six Flags is in debt right now, and I just can't see this scenario occurring.

 

[USO92]

Please.....for the sake of all that is good and holy this better not happen.

I adore Busch Gardens and I dont want Six Flags destroying these parks.

I will die if this happens.

 

[figment1986]

I can;t imagine Six Flags running those parks well with the direction they "were" starting to go... Theme is everything and six flags doesn't necessarily go in that direction, Cedar Fair yes... Six flags no. I would have been more happy if comcast bought them at this rate.

 

[Brian G.]

Holy Crap if Comcast were to purchase SeaWorld...there'd be anarchy.

 

[figment1986]

Holy Crap if Comcast were to purchase SeaWorld...there'd be anarchy.

people already imagined back then when inbev was selling the parks what if universal bought them, it's not that bad of an idea since the direction the engineers at Seaworld parks have been going is on the par with what universal was doing before potter... imagine with a proper budget, and the parks already have a "ticket" in orlando... of course it also could be just as bad as if six flags does get them... the company who's building even more coasters at their parks....

 

[IAmFloridaBorn]

Along with previous responses, hope this doesnt happen. Sea World is the best "Spend time together" along with Epcot, park in Orlando IMO. Man this would ruin this

 

[captainjack]

Holy Crap if Comcast were to purchase SeaWorld...there'd be anarchy.

I agree.. :thumbs: Comcast SHOULD buy Sea World. That would really irk Disney The ad campaign could be "your whales ride ECVs ...our whales are where they belong...in the water." :rofl: Since this deal would include 11 parks..this would make Comcast a very serious threat to Disney theme park wise

 

[Disneyhead]

I would love to see Comcast buy SeaWorld Parks & Entertainment. They would then without a doubt be a powerhouse in the Orlando market. With Multi-Park Tickets and organized transportation they could seriously put a kink in the mouses tail.

 

[ThemeParks4Life]

Dear God, no!!!!!!!!!! We dont need them ruining the place!!

 

[Kevin38]

I would love to see Comcast buy SeaWorld Parks & Entertainment. They would then without a doubt be a powerhouse in the Orlando market. With Multi-Park Tickets and organized transportation they could seriously put a kink in the mouses tail.

If Comcast buys Seaworld They would have more Parks in Orlando and would hike the price of AP's to Disney levels (and include Wet and Wild)
Would not like that move (if they combined them)



If Blackstone was going to sell to Universal wouldn't they have done it when they owned 1/2 of Universal ? Do they still own some of Universal?

 

[Spideyfreak]

[video=youtube;umDr0mPuyQc]https://www.youtube.com/watch?v=umDr0mPuyQc[/video]