James said:Yeah it's on Fox Sports 1 but it's mainly a diehard NASCAR audience looking for inexperienced drivers to wreck. And unless she's up front, you won't see her car on tv.
April 4, 2014
To All SeaWorld Parks & Entertainment Team Members
SALE OF COMMON STOCK, SHARE BUYBACK AND CALIFORNIA LEGISLATION
It's been a busy start to 2014. From SeaWorld's 50th celebration last month, construction on new attractions and the upcoming Easter holidays, our parks have been abuzz with activity. The same has been true at our corporate headquarters, and I wanted to update you on several items you may have heard about recently in the news.
The first relates to Blackstone's upcoming sale of SeaWorld stock – 15 million shares and their third offering, including the IPO. In addition, we have announced our intention to buy 1.75 million of SeaWorld stock from Blackstone as part of the transaction. As a result of this sale, Blackstone's ownership position in SeaWorld Entertainment will fall to about 20 percent with this sale, but they still remain our largest shareholder by a significant margin.
As I have shared with you several times since we were first acquired by Blackstone in 2009, a full out public offering has always been the Blackstone plan. Their goal is to continue to realize the benefit of their original investment in SeaWorld. That is why they are selling the 15 million shares – because our stock is at a price that allows them to generate an attractive return. The fact that the sale is a result of the favorable stock price is a testament to our parks, our people and the quality of the guest experience that you deliver day in and day out.
Secondly, you have likely also heard about proposed legislation in California designed to ban killer whales in captivity in that state. On Tuesday, there will be a hearing in Sacramento that will likely generate considerable media coverage. Representatives from SeaWorld and many of our supporters will be there to testify against the legislation. We believe it is severely flawed on multiple levels, most importantly the premise that captivity is cruel to killer whales. This is an emotional argument with no scientific evidence to support it. The simple fact is that our animals receive world class care. Our zoological team is second to none and works day in and day out to ensure that are animals are safe and well-cared for. We are proud of the work they do, and the important role SeaWorld plays in teaching all of us to value and respect wildlife.
Despite some of the detractions, our parks are off to a great start already this year, thanks in large part to your hard work and dedication.
With Easter right around the corner and summer not far behind, there is much work ahead of us, and I thank you for everything you do.
Regards,
Jim Atchison
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