The U.S. Department of Justice approved an $8 billion merger for Six Flags and Cedar Fair, which is the parent company of Knott’s Berry Farm.
It was determined the two companies have met the regulatory conditions to officially merge on July 1. The L.A. Daily News reported the Department of Justice could have forced the sale of Magic Mountain or Knott’s Berry Farm to encourage competition.
Richard Zimmerman, Cedar Fair’s CEO, will stay in the same position when the companies – which will now be called Six Flags Entertainment Corporation – officially merge. The new chairman of the board will be Selim Bassoul, the CEO of Six Flags.
Want to get caught up on what's happening in SoCal every weekday afternoon? Click to follow The L.A. Local wherever you get podcasts.
The companies control a total of 27 amusement parks and 15 water parks across North America.
The merger was first announced in November.
Follow KNX News 97.1 FM
Twitter | Facebook | Instagram | TikTok