The majority ownership of the combined company will belong to Cedar Fair shareholders.

The new company, operating under the Six Flags name, will oversee more than 40 amusement and water parks, solidifying its position as a major player in the industry. However, this merger comes at the cost of Six Flags' Arlington headquarters, as the company plans to relocate its base of operations to Charlotte, N.C.

Described as a "merger of equals," Cedar Fair shareholders will emerge as the slight winners, owning 51.2% of the new company, while Six Flags shareholders will hold 48.8%. Additionally, the new venture will be led primarily by Cedar Fair executives, with Richard Zimmerman, the current president and CEO of Cedar Fair, retaining his role. Selim Bassoul, the president and CEO of Six Flags, will transition into the position of executive chairman for the new company's board of directors.

Zimmerman expressed confidence in the leadership team, highlighting their extensive experience in park operations and expertise in integrating businesses and achieving synergy targets. He believes their collective insights and complementary skills will prove invaluable as they merge two iconic North American amusement park companies, steering them towards a brighter future.

While Six Flags Over Texas has been a fixture in Arlington since 1961, the company recently shifted its headquarters in 2020 to the former site of the Texas Rangers' stadium, Globe Life Park, located at 1000 Ballpark Way. The move marked a significant change from their previous headquarters in Grand Prairie, where they were based since 2010.

With this merger, both Six Flags and Cedar Fair aim to challenge dominant competitors like Walt Disney World and Universal Studios. In particular, Universal Studios is slated to open a children-themed resort in Frisco by 2026, encompassing an impressive 718,000 square feet at a cost of $150 million. These aggressive moves signal a desire to capture more of the amusement park market.

Collectively, Six Flags and Cedar Fair parks see over 50 million visitors each year. However, they still lag behind Disney and Universal, who draw in over 80 million visitors with their combined nine amusement and water parks. The merged Six Flags and Cedar Fair company will undoubtedly present a stronger challenge to these industry giants in the years to come.