In two days, Wild Adventures in Valdosta and its sister park, Cypress Gardens in Florida, will be auctioned. The parks will be sold individually to different companies, bringing a premature end to what could have been the beginning of an entertainment dynasty.
Adventure Parks Group CEO Kent Buescher was successful in turning around Cypress Gardens, a once lush park and much beloved family destination for decades before being dwarfed by its Disney neighbor. Years of decline were turned around in less than two years by Buescher, but at a very high price — the theme park in Valdosta that he turned from a petting zoo and conference center into one of the fastest growing theme parks in America.
When three hurricanes struck Cypress Gardens during its renovation in 2004, Buescher hoped insurance would pay off the loans he took to repair the damage. He put Wild Adventures up as collateral. The insurance paid only a small percentage of the claim, and after filing Chapter 11 in 2006, Buescher and his investors now face an uncertain future as bidders vie for the two adventure parks.
Reports have identified Herschend Family Entertainment, the owners of Dollywood in Pigeon Forge, Tenn., as the “stalking horse” bidder for Wild Adventures in the closed auction, to be held Tuesday in Macon, with reports of two very interested parties in Cypress Gardens. More bidders are expected, but must come with millions of dollars in hand to qualify. Wild Adventures’ opening bid is nearly $36 million and Cypress Gardens is $17.4 million, with 10 percent required in cash up front. The balance is due the beginning of October.
Competition for the parks is healthy, and the communities, employees and season-ticket holders should all be fine as the parks will continue to operate. The investors, creditors, and Buescher all face an uncertain future this week, and we owe them a debt of gratitude for the entertainment and economic impact they’ve provided.
It’s been a wild adventure, Kent. Good luck this week.
What We Think
Our Opinion: A wild adventure
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Memorial Day: A solemn occasion
Memorial Day has taken on many meanings through the years. The unofficial start of summer, a day off from work, a day to honor family and friends who have passed away.
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Elections: Creating a two-party region?
Twenty years ago, most area elections were decided during the primaries. Then, almost every candidate qualified as a Democrat. While there may be plenty of challengers on the ballot, many seats were decided in July or a few weeks later during the primary run-off.
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Thumbs up, thumbs down
THUMBS UP: To South Georgians making fine impressions on television singing competitions. Phillip Phillips of Leesburg won “American Idol” this week. Meanwhile, Lowndes High School graduate Stacia Watkins participated in the new ABC show “Duets.” Well done!
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Farewell to the vanishing ace
Donald S. “Bush” Bryan was not only a rare individual. He was part of a vanishing breed.
An Adel resident for the past 30 years, Bryan was a World War II flying ace. Not just an ace but a double ace. A pilot must down five enemy aircraft to become an ace; Bryan downed 13.3 enemy planes in Europe. The fractions represent planes downed with other pilots. -
A widespread mosquito alert
In announcing the discovery of a mosquito carrying the West Nile Virus strain, city and health officials did not include the specific location of the discovery.
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Of Guantanamo Bay and a Founding Father
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Congratulations, VSU Softball!
This weekend, Valdosta State University Blazers Softball became the latest team to add to Valdosta’s TitleTown legacy.
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School’s out so watch out!
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Qualifiers are next leaders
While the national media focuses attention on the presidential election, it should be remembered that we will also choose our local leaders this year.
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Thumbs up
THUMBS UP: To the 2011-12 arts season. Theatre Guild Valdosta’s rollicking comedy, “Caught in the Net,” officially brings to a close a magnificent schedule of shows ranging from theatre to opera to concerts to art exhibits and more from a variety of area venues. Theatre Guild will also open the 2012-13 season this summer with the musical “Into the Woods.” Until then, arts lovers can soon enjoy a new series of exhibits from the year-round Annette Howell Turner Center for the Arts and three musicals starting in two weeks from Peach State Summer Theatre.
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Memorial Day: A solemn occasion
