Six Flags completes $8 billion merger with Knott's Berry Farm owner Cedar Fair

CHARLOTTE, N.C. (KABC) -- Theme park giants Six Flags and Cedar Fair officially completed their $8 billion merger on Monday.

The deal was finalized after the stock market closed.

Starting Tuesday, the newly formed Six Flags Entertainment Corporation will trade on the New York Stock Exchange under the ticker symbol FUN.

"Today marks a significant milestone for our company, shareholders, guests and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences," Six Flags Entertainment Corporation president and CEO Richard Zimmerman said in a statement.

Cedar Fair is known in Southern California for owning Knott's Berry Farm and Knott's Soak City in Buena Park. Six Flags owns Six Flags Magic Mountain and Hurricane Harbor in Valencia.

The new company will operate 42 parks across North America.

Plans for the merger were announced last year.