Paramount Parks

Paramount Parks is an operator of theme parks and attractions, which annually attract about 13 million patrons. The company currently owns and operates five theme parks in North America and manages the Bonfante Gardens theme park in Gilroy, CA.

Related Topics:
Theme parks - Bonfante Gardens - Gilroy, CA

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Viacom acquired the parks chain as part of its acquisition of Paramount Pictures in 1994. Paramount, previously known as Gulf and Western, in turn had acquired the parks from Nelson Schwab and his management group which included current parks' president (as of 2005) Al Weber. Schwab acquired the group in a management-led LBO from the King's Entertainment Company, known in the industy as KECO. The original King's Entertainment Company had built Kings Island in Cincinnati using cast off rides from New York's famed Coney Island and to this day there is a small area in the Cincinnati park called "Coney Island" still featuring some of those original rides. The parks were part of Viacom's Blockbuster Entertainment division until 2000 when they were placed under Tom McGrath at Paramount Pictures who served as chairman until 2005. McGrath is responsible for re-theming the parks with Viacom's brands and intellectual property, including Nickelodeon, Paramount's "Top Gun." "Bubba Gump Shrimp Company" and "Happy Days" and substantially expanding the parks' following. McGrath left Viacom in late 2004 to make a bid to buy out the group with Goldman Sachs) (as reported in the New York Post). As of late 2005 the group is part of Nickelodeon Entertprises (MTV Networks) is slated to be sold by Viacom.

Related Topics:
Viacom - Paramount Pictures - Gulf and Western - Coney Island - Blockbuster Entertainment - Tom McGrath - Nickelodeon - Goldman Sachs - New York Post - MTV Networks

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The corporate offices of Paramount Parks are located in Charlotte, North Carolina.

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Charlotte - North Carolina

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