Six Flags Entertainment and Peanuts Worldwide Extend Licensing Agreement to 2030
Six Flags Entertainment Corporation (NYSE:FUN), North America's largest regional amusement-resort operator, today announced it has extended its licensing agreement with Peanuts Worldwide for another five years. The new agreement extends Six Flags' position as the exclusive amusement park partner for Peanuts™ in North America. The agreement also includes in-park entertainment and sports, food and beverage, retail operations, and exclusive Peanuts merchandise to December 31, 2030, ensuring that millions of park guests at Knott's Berry Farm, Carowinds, Cedar Point, Kings Island, Kings Dominion, Dorney Park, Canada's Wonderland, Great America, Michigan Adventure, Valley Fair, and Worlds of Fun will continue to experience and connect with the iconic Peanuts characters.
"We are proud to extend our long-standing partnership with Peanuts, which has delivered so many fun and cherished memories to our guests," said Christian Dieckmann, Six Flags chief commercial officer. "Both of our brands are built on bringing families together and creating one-of-a-kind experiences and emotional connections. The renewed relationship between Six Flags and Peanuts Worldwide will enable both companies to enhance and extend their brands through themed areas, live entertainment, merchandise and games."
"It's been exciting to see how the legacy Cedar Fair parks have introduced our beloved Peanuts characters to new generations of kids over the years, and this renewed partnership with Six Flags will ensure we expand those connections in authentic and meaningful ways," said Tim Erickson, executive vice president for Peanuts Worldwide.
The company's collaboration with Peanuts dates back to the early ‘80s when Knott's Berry Farm in southern California opened the first Camp Snoopy. Since then, the legacy Cedar Fair parks have made significant investments to introduce Charlie Brown, Snoopy and the rest of the Peanuts gang to guests of all ages.
Earlier this year Carowinds unveiled two new family friendly attractions in Camp Snoopy as part of the largest investment in family attractions in the park's history: a new launch roller coaster and an interactive raft ride. These additions, alongside splash play zones and a meet-and-greet experience with Peanuts costume characters, offer more spots for families to cool off and interact with Snoopy, Charlie Brown and the entire Peanuts gang. In addition, the park introduced the Camp Snoopy Bird Watchers Club, featuring augmented reality (AR) based games for the whole family.
Last year, Kings Island expanded its award-winning kids' area with the addition of a new adventure play space, Camp Snoopy, featuring the park's newest roller coaster, Snoopy's Soapbox Racers. Also debuting last year was Beagle Scout Acres, a shaded, nature-themed play area where kids and their families are able to explore and play on their own among turfed mounds and grassy areas filled with camping equipment.
About Six Flags Entertainment Corporation
Six Flags Entertainment Corporation (NYSE:FUN) is North America's largest regional amusement-resort operator with 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada and Mexico. Focused on its purpose of making people happy, Six Flags provides fun, immersive and memorable experiences to millions of guests every year with world-class coasters, themed rides, thrilling water parks, resorts and a portfolio of beloved intellectual property such as Looney Tunes®, DC Comics® and PEANUTS®.
About Peanuts
The characters of Peanuts and related intellectual property are owned by Peanuts Worldwide, which is 41% owned by WildBrain Ltd., 39% owned by Sony Music Entertainment (Japan) Inc., and 20% owned by the family of Charles M. Schulz, who first introduced the world to Peanuts in 1950, when the comic strip debuted in seven newspapers. Since then, Charlie Brown, Snoopy and the rest of the Peanuts gang have made an indelible mark on popular culture. In addition to enjoying beloved Peanuts shows and specials on Apple TV+, fans of all ages celebrate the Peanuts brand worldwide through thousands of consumer products, as well as amusement park attractions, cultural events, social media, and comic strips available in all formats, from traditional to digital. In 2018, Peanuts partnered with NASA on a multi-year Space Act Agreement designed to inspire a passion for space exploration and STEM among the next generation of students.
Forward-Looking Statements
Some of the statements contained in this news release that are not historical in nature are forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements as to our expectations, beliefs, goals and strategies regarding the future. Words such as "anticipate," "believe," "create," "expect," "future," "guidance," "intend," "plan," "potential," "seek," "synergies," "target," "objective," "will," "would," similar expressions, and variations or negatives of these words identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These forward-looking statements may involve current plans, estimates, expectations and ambitions that are subject to risks, uncertainties and assumptions that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct, that our growth and operational strategies will achieve the target results. Important risks and uncertainties that may cause such a difference and could adversely affect attendance at our parks, our future financial performance, and/or our growth strategies, and could cause actual results to differ materially from our expectations or otherwise to fluctuate or decrease, include, but are not limited to: failure to realize the anticipated benefits of the merger, including difficulty in integrating the businesses of legacy Six Flags and legacy Cedar Fair; failure to realize the expected amount and timing of cost savings and operating synergies related to the merger; adverse weather conditions; general economic, political and market conditions; the impacts of pandemics or other public health crises, including the effects of government responses on people and economies; competition for consumer leisure time and spending or other changes in consumer behavior or sentiment for discretionary spending; unanticipated construction delays or increases in construction or supply costs; changes in capital investment plans and projects; anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the Combined Company's operations; legislative, regulatory and economic developments and changes in laws, regulations, and policies affecting the Combined Company; acts of terrorism or outbreak of war, hostilities, civil unrest, and other political or security disturbances; and other risks and uncertainties we discuss under the heading "Risk Factors" within our Annual Report on Form 10-K and in the other filings we make from time to time with the Securities and Exchange Commission. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this document and are based on information currently and reasonably known to us. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after publication of this news release.
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Investor Contact: Michael Russell, 419.627.2233
Media Contact: Gary Rhodes, 704.249.6119