Cedar Fair Purchases Paramount Parks

Cedar Fair, owner of several large amusement parks across the country such as Cedar Point and Dorney Park, has purchased all Paramount Parks for $1.24 billion. There are four Paramount Parks in the United States and one in Canada. The purchase of these parks should come close to doubling Cedar Fair's annual revenue. Over the last year Cedar Fair has been cutting admission prices and lowering the cost of food at their parks. These price cuts have been welcomed by park goers, who are were hit with a barrage of admission and parking increases by Cedar Fairs competitor, Six Flags.