Annnnnnd, AC-tion!

On Tuesday, they merged two networks out of existence. On Thursday, they ditched their parks division. If I were working for Simon & Schuster, I would be getting up very early every morning to check the wires. CBS CEO Leslie Moonves is in the broadcasting business, and by month's end he may not be in any other business.

CBS CORPORATION TO DIVEST PARAMOUNT PARKS

 

The CBS Corporation (NYSE: CBS.A and CBS) announced today it intends to divest its Paramount Parks division. The Company indicated that numerous parties have already expressed interest in acquiring the operation, and CBS Corporation expects to complete the divestiture in the second half of 2006.

 

Paramount Parks -- which had more than 12 million visitors in 2005 -- will remain in full operation throughout the divestiture process as it embarks on what's expected to be another successful year.

 

Paramount Parks is a leading developer and operator of world-class theme parks and location-based attractions, entertaining more than 12 million guests annually.  The division currently owns and operates five of the most popular theme parks in North America, including Paramount Canada's Wonderland (Toronto, Ontario); Paramount's Carowinds (Charlotte, N.C.); Paramount's Great America (Santa Clara, Calif.); Paramount's Kings Dominion (Richmond, Va.); and Paramount's Kings Island (Cincinnati, Ohio). The division also developed and manages the award-winning STAR TREK: The Experience at the Las Vegas Hilton (Las Vegas, Nev.) and manages Bonfante Gardens horticultural theme park (Gilroy, Calif.) and CBS Television City at the MGM Grand Hotel & Casino (Las Vegas, Nev.).