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Cedar Point Buys Kings Island

After competing for rides and customers for years, Ohio's two largest amusement parks are about to share an owner.

Cedar Point's owner, Cedar Fair, is buying Paramount Parks, owner of Kings Island. Cedar Fair's other properties include Geagua Lake in Cleveland, Knott's Berry Farm in California and four other parks. Along with Kings Island near Cincinnati, Cedar Fair is buying four other parks.

During 2005, the Cedar Fair and Paramount's one dozen parks combined generated nearly $1 billion dollars in revenue and saw some 25million visitors.