When did Paramount sell Kings Island?

After receiving interest from several potential suitors, CBS announced the sale of Paramount Parks to Cedar Fair on June 30, 2006, for $1.24 billion. The acquisition of Kings Island gave Cedar Fair, who had recently acquired Geauga Lake from Six Flags in 2004, ownership of all three major amusement parks in Ohio.



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After 14 years of operation under Paramount, Cedar Fair began removing the Paramount name and logo from the parks in January 2007.

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Sale to Cedar Fair On January 27, 2006, the then-newly minted CBS Corporation announced its intent to sell Paramount Parks due to the fact that it did not fit well within the company's core business (producing and distributing television content).

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In the last 50 years, the park has been owned by Taft Broadcasting, Kings Entertainment Co., American Financial Corp., Paramount Communications, and Cedar Fair, the current owners. Cedar Fair purchased Kings Island in 2006 for a reported $1.24 billion.

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Earlier this month, Cedar Fair, which owns Kings Island and 16 other parks, merged with Six Flags to form an $8 billion theme park giant. The combined company will operate under the name Six Flags, which caused some thrill seekers to worry that their favorite amusement park's name could also change.

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In the last 50 years, the park has been owned by Taft Broadcasting, Kings Entertainment Co., American Financial Corp., Paramount Communications, and Cedar Fair, the current owners. Cedar Fair purchased Kings Island in 2006 for a reported $1.24 billion.

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In 1987, Viacom was acquired by theater operator company National Amusements. Meanwhile, Paramount Pictures was acquired by Gulf and Western Industries in 1966, which then re-branded itself as Paramount Communications in 1989. Viacom then purchased Paramount Communications in 1994.

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2. The very first. The first rides and attractions constructed at the park were the Eiffel Tower, Royal Fountain and the Racer roller coaster. The Racer was the first twin-track wooden coaster built in modern times, according to the Kings Island website.

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The amusement park's name represented its historical roots and its future. “Kings” for the location of the park near Kings Mills, Ohio, and “Island” in reference to the company's Coney Island roots. It would not be until October 14, 1970 that the name would become official.

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For the full year ended Dec. 31, 2020, net revenues totaled $182 million versus $1.47 billion for 2019.

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Both were surpassed the following year with the debut of Shockwave at Six Flags Great America. On September 27, 2019, the park announced plans to close Vortex permanently on October 27, 2019. Area Manager Don Helbig stated that the coaster had reached the end of its service life.

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Rather than interfere with the burial grounds, Kings Island officials elected instead to simply build their amusement park around the small cemetery. Today, legend has it that those same officials inadvertently paved over a grave when creating what is now the park's guest parking lot, resulting in an agitated spirit.

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Severe damage from Hurricane Katrina closed the park and it never reopened due to a pump failure after four to seven feet of floodwaters sat on park grounds. The Industrial Development Board took ownership of the property in 2009.

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