In a Shocking Development, Six Flags to Shutter Corporate Headquarters as Soon as Next Week

This week, we learned that the merger between Six Flags and Cedar Fair is due to close on July 1. When the merger closes, the two theme park groups will operate as the Six Flags Entertainment Corporation, which will operate more than 40 theme parks and water parks and be worth more than $8 billion.

Related: Six Flags Forced into Dramatic Change That Alters Iconic Theme Park Coaster

As is the case with all corporate mergers, there will be some overlap when the two amusement park companies come together, which means that the combined company will see layoffs and the closing of corporate headquarters.

To lead the new company, Cedar Fair executive Richard Zimmerman will be the President and Chief Executive Officer, and former Six Flags Entertainment Corporation President and CEO Selim Bassoul will serve as executive chairman of the new company’s board of directors.

Zimmerman said: 

We are fortunate to have a proven team of leaders who bring decades of park operating experience and significant expertise in integrating businesses and achieving synergy targets for the combined company. Their insights and complementary skill sets will be instrumental as we combine two of North America’s iconic amusement park companies and forge a new future together.

The new company will also be moving its world headquarters to Charlotte, North Carolina. This means that after decades in Texas, Six Flags will be closing its world headquarters in the Long Star State.

Six Flags opened Six Flags Over Texas in 1961 and moved its corporate headquarters to Texas in 2010 after emerging from bankruptcy. Originally, Six Flags was headquartered in New York City.

In 2020, the headquarters were moved to Globe Life Park, the former home of the Texas Rangers. Six Flags has remained at that location since.

With the move to North Carolina, some are concerned about what will happen to the 120 employees who currently work at Six Flags Headquarters.

There is also some concern that the new company will try to sell off some assets to pay down its debt. In the past, activist investors have pressured Six Flags to sell some of its parks, and now, with some overlap in parks, there may be more pressure to sell.

The new combined company will be the third-largest theme park company in the world, behind Disney and Universal. According to Statista, the combined revenue for Six Flags and Cedar Fair was $2.8 billion last year.

But while the new company will be massive, the closure of Six Flags’ corporate headquarters will cost hundreds their jobs, with more layoffs possible in the future.