Paramount Parks
| Company type | Subsidiary |
|---|---|
| Industry | Theme parks |
| Founded | August 17, 1992 |
| Defunct | June 30, 2006 |
| Fate | Acquired by Cedar Fair |
| Successor | Cedar Fair |
| Headquarters | Charlotte, North Carolina, U.S. |
Number of locations | 7 (2006) |
Key people | Alexander Weber Jr. (CEO) |
| Revenue | $0.42 billion (2005) |
| $0.24 billion (2005) | |
| Parent |
|
| Footnotes / references Financials as of December 31, 2005. | |
Paramount Parks, Inc. was an American amusement park company headquartered in Charlotte, North Carolina, United States, as a subsidiary of the mass media company CBS Corporation. Formed in 1992 through the acquisition of Kings Entertainment Company by Paramount Communications, it was the fourth-largest amusement park operator in the United States, hosting approximately 12 million visitors annually. Paramount Parks operated seven properties, including six amusement parks and one attraction.
The subsidiary became a part of Viacom following its acquisition of Paramount Communications in 1994. When Viacom split in 2005, Paramount Parks was placed under CBS Corporation. In 2006, CBS Corporation sold Paramount Parks to Cedar Fair for $1.24 billion, and the company was subsequently integrated into Cedar Fair.