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BUSINESS
September 26, 2000
The owner of Knott's Berry Farm said Monday it has increased its quarterly cash distribution on its limited partnership units to 39 cents per unit from 37.5 cents. Cedar Fair LP in Sandusky, Ohio, said in a news release the latest hike brings the total increases over the last 12 months to 11 cents a unit. It also puts the annualized rate at $1.56 a share, up from the $1.50 rate paid the last two quarters.
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BUSINESS
December 18, 2009 | By Hugo Martín and Tom Petruno
The $2.4-billion buyout of Knott's Berry Farm's parent company by a private equity firm may be a sign of confidence in the future of theme parks, analysts said Thursday. Apollo Global Management agreed late Wednesday to acquire Cedar Fair, the Sandusky, Ohio, company that owns Knott's in Buena Park and 10 other amusement parks, seven water parks and five hotels in the U.S. and Canada. FOR THE RECORD: Knott's takeover: An article in Friday's Business section about Apollo Global Management's buyout of Knott's Berry Farm's parent, Cedar Fair, said the California Public Employees' Retirement System had paid $46 million in fees to Alfred Villalobos, a placement agent working for Apollo.
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BUSINESS
March 7, 2000 | (E. Scott Reckard)
Citing a strong performance at its Knott's Berry Farm in Buena Park, amusement park operator Cedar Fair LP on Monday increased its quarterly payments to investors by 3.4%. Knott's Berry Farm's fourth-quarter performance was "outstanding," said Richard L. Kinzel, Cedar Fair's chief executive. He also pointed out that several Cedar Fair parks in the Midwest and East contributed to "a solid Halloween season." The Sandusky, Ohio, company said it will distribute 37.
BUSINESS
July 10, 2007 | From Times Wire Services
Shares of Cedar Fair rose the most in 20 months after a report said the third-largest U.S. theme-park operator and owner of Knott's Berry Farm in Buena Park had hired Bear Stearns Cos. to seek a buyer that would keep the management team. Shares of Sandusky, Ohio-based Cedar Fair rose 96 cents, or 3.3%, to $29.80, their biggest jump since November 2005. The company, which has a $1.62 billion market value, may fetch $3.3 billion, or about 10 times its annual cash flow, the New York Post said.
BUSINESS
April 15, 1999 | Robin Fields
The Ohio company that owns Knott's Berry Farm said Wednesday it had reached a deal with Radisson Hotels to remake the 320-room Buena Park Hotel and Convention Center as a Radisson resort. "Radisson has a worldwide reservation system, international marketing strength and the prestige of a national hotel chain," Knott's Berry Farm spokesman Bob Ochsner said. Knott's owner Cedar Fair LP of Sandusky, Ohio, struck a deal last December to buy and renovate the hotel.
BUSINESS
May 12, 1999 | E. Scott Reckard
Cedar Fair LP, the Sandusky, Ohio, partnership that bought Knott's Berry Farm in 1997, reported improved first-quarter results Tuesday, saying that better weather and new attractions had boosted attendance at the Buena Park theme park. Besides the year-round Knott's, Cedar Fair owns four amusement parks in the East and Midwest that operate just four months a year and lose money during the off season. For the January-March quarter, Cedar Fair lost $21.
BUSINESS
July 22, 2000 | Bloomberg News
Cedar Fair LP, the Ohio partnership that owns Knott's Berry Farm, said Friday that its second-quarter and full-year earnings will fall short of analysts' estimates because cool, rainy weather has kept customers away from its other amusement and water parks.
BUSINESS
May 6, 2000 | E. SCOTT RECKARD, TIMES STAFF WRITER
Cedar Fair LP, the Ohio partnership that owns Knott's Berry Farm, reported larger first-quarter losses Friday, saying Knott's attracted fewer patrons than a year earlier, when its GhostRider wooden roller coaster was brand new. Cedar Fair lost $26.6 million, or 51 cents per limited partner unit, during the latest quarter, compared with a loss of $21.8 million, or 41 cents per unit, a year earlier. Revenue fell 11.6% to $20.5 million.
BUSINESS
November 23, 1999 | E. Scott Reckard
The company that owns Knott's Berry Farm said Monday it will repurchase as much as $25 million of its partnership units, whose value has fallen 35% in 18 months, because they are an "attractive investment" at that price. The move by Cedar Fair LP of Sandusky, Ohio, could boost the price of the units by signaling that the company is confident of its prospects and by reducing the number of units in public hands.
BUSINESS
June 23, 2000 | Bloomberg News
The owner-operator of Knott's Berry Farm and Soak City U.S.A. in Buena Park said Thursday that it is changing its general partner fee and executive compensation plan to reduce cash payments and replace them with company stock and options. Cedar Fair LP, which owns and operates five amusement parks and four water parks nationwide, said it is seeking to eliminate fees paid to general partners retroactive to Jan. 1. The publicly traded partnership will make an $8.
BUSINESS
September 9, 2006 | From Bloomberg News
Cedar Fair, the operator of Knott's Berry Farm in Buena Park and other amusement parks, cut its 2006 revenue forecast because attendance through Labor Day declined from last year. The Sandusky, Ohio-based company said it expected revenue of $815 million to $835 million for the year. Attendance at parks through Labor Day was 10.4 million, down from 10.5 million a year earlier. The average revenue estimate of analysts surveyed by Thomson Financial was $845 million.
BUSINESS
May 23, 2006 | Kimi Yoshino, Times Staff Writer
Cedar Fair, the owner of Knott's Berry Farm and several Soak City water parks in Southern California, said Monday that it would buy five theme parks from CBS Corp. for $1.24 billion in cash. With its purchase of CBS' Paramount Parks unit, Cedar Fair would nearly double its revenue and attendance. The deal also would allow CBS to unload the theme parks -- including Great America in Santa Clara, Calif. -- that it inherited when it split with Viacom Inc. and focus on its broadcasting businesses.
BUSINESS
June 2, 2001 | Dow Jones
Cedar Fair, the Ohio partnership that owns Knott's Berry Farm in Buena Park, said attendance at several of its parks for the first five months of the year decreased 7% due to cool weather and rain. The amusement parks operator said it remains confident its 2001 attendance and revenue goals are still within reach because most people attend the parks in July and August. Analysts estimate that Cedar Fair will earn $1.74 a share this year, according to a First Call/Thomson Financial survey.
BUSINESS
May 30, 2001
Cedar Fair, which owns Knott's Berry Farm in Buena Park, has acquired 16-acre Oasis Water Park in Palm Springs for $9.1 million.
BUSINESS
January 4, 2001 | E. SCOTT RECKARD, TIMES STAFF WRITER
Knott's Berry Farm attendance fell 2% to 3.7 million last year, the Buena Park amusement park's parent company, Cedar Fair LP, reported Wednesday. Cedar Fair said the decrease was expected because Knott's had no new blockbuster attraction like GhostRider, a wooden roller coaster that opened a year earlier. Knott's also had hoped to open a new water thrill ride, Perilous Plunge, by midsummer but couldn't get the attraction functioning properly until late September.
BUSINESS
September 26, 2000
The owner of Knott's Berry Farm said Monday it has increased its quarterly cash distribution on its limited partnership units to 39 cents per unit from 37.5 cents. Cedar Fair LP in Sandusky, Ohio, said in a news release the latest hike brings the total increases over the last 12 months to 11 cents a unit. It also puts the annualized rate at $1.56 a share, up from the $1.50 rate paid the last two quarters.
BUSINESS
March 9, 1999 | E. Scott Reckard
The Ohio partnership that bought Knott's Berry Farm in 1997 increased its dividend Monday by 7.7%, citing "outstanding" performance at the Buena Park amusement park. Cedar Fair L.P., which also owns four parks in the East and Midwest, raised the annual payout from $1.30 to $1.40 for each partnership unit. In the past, dividend increases had followed the busy summer season. The first quarterly payout of 35 cents a share under the new rate will be payable May 14 to unit holders of record April 6.
BUSINESS
February 3, 1998 | DARYL STRICKLAND, TIMES STAFF WRITER
Knott's Berry Farm is planning to build an as-yet unnamed $9-million thrill ride that is expected to open in time for the peak summer season, a spokesperson said Monday. The ride will work like this: Seated passengers will be slowly lifted 300 feet straight up. Then they will plummet 50 mph toward the ground, coming to a soft landing.
BUSINESS
July 25, 2000 | Bloomberg News
Partnership units of Cedar Fair, owner of Knott's Berry Farm in Buena Park, on Monday fell $1, or 5.3%, to $18 on the New York Stock Exchange. The Dublin, Ohio, amusement park operator warned Friday that it expects to report second-quarter earnings of 35 cents to 37 cents per unit. The company was expected to earn 42 cents, according to a survey of analysts by First Call/Thomson Financial.
BUSINESS
July 22, 2000 | Bloomberg News
Cedar Fair LP, the Ohio partnership that owns Knott's Berry Farm, said Friday that its second-quarter and full-year earnings will fall short of analysts' estimates because cool, rainy weather has kept customers away from its other amusement and water parks.
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