Another week, another major theme park deal. The buyout group Apollo Management LP is buying out the Cedar Fair chain of 11 theme parks for a cool $2.4 billion in cash and assumed debt, according to the Orange County Business Journal. In addition to its flagship park, Cedar Point, the company's portfolio includes Knott's Berry Farm, Dorney Park, and the former Paramount Parks, such as Kings Island.

Coming on the heels of Comcast's takeover of the Universal Parks and the sale of Busch Entertainment Corp. to The Blackstone Group, the Cedar Fair deal represents another upheaval in the volatile industry. With the economy in tatters and park attendance and revenue in decline, it is apparently a good time for Apollo to set its sights on the beleaguered Cedar Fair and get into the coaster biz. Little is known about the private equity firm's experience in the amusement industry or its plans for Cedar Fair. Apollo is planning to close the sale in the second quarter of 2010.

• Diamondback- Review of the Kings Island coaster.
• Knott's Merry Farm- Overview of ther holiday event at Knott's Berry Farm

The nephew of Walt Disney, who bore a striking resemblance to his uncle, died yesterday at the age of 79 after a battle with stomach cancer. While Roy E. Disney wasn't a major player in the theme parks, he did play an important role in many other aspects of the Disney empire. He was instrumental in wooing Michael Eisner, Frank Wells, and Jeffrey Katzenberg to the company in 1984 (and later played an important role in ousting Eisner), which led to a major reboot and expansion of the Mouse House. Disney headed up the animation division under the new regime and oversaw such watershed productions as The Little Mermaid, Who Framed Roger Rabbit? and The Lion King. He also provided a link to the company's roots and often acted as its ambassador.

Coaster fans will experience afternoon delight (along with morning and evening bliss) when Kennywood introduces Sky Rocket this coming season. The Pennsylvania park recently released the name of its new steel thrill machine.

Kennywood's wonderful collection of roller coasters includes its classic Jazz-age woodies, Racer, Thunderbolt, and Jack Rabbit, the latter of which dates back to 1921. For the seventh ride in its arsenal, however, the park will be going decidedly New Age. Set to debut in May 2010, the high-tech coaster will use Linear Synchronous Motor (LSM) technology to launch passengers from 0 to 50 mph in 3 seconds. Read more about Kennywood's Sky Rocket.

• Sky Rocket Preview Video
• More New 2010 Coasters and Attractions

Photo: Sky Rocket rendering courtesy of Palace Entertainment.

It's the best of times and worst of times to be planning a theme park vacation. Now's the time to book a sweet deal, because the parks, hotels, and other vendors are offering fabulous incentives to woo cash-strapped or otherwise panicky consumers. It's the worst of times because, well, would-be vacationers are strapped for cash or otherwise panicky. Here's the conundrum: As the economy heads north, the deals will go south. Walt Disney CEO Robert Iger recently said that he expects the company to pull back its discounts in 2010. But there are deals to be had now--if you've got the bucks and the nerve to spend them. See the latest Florida theme park discounts and deals, including special offers for Walt Disney World.

• California Theme Park Discounts and Deals
• It's the Most Wonderful Time of the Year...at Florida's Theme Parks- Holiday events guide.

Some people think it's odd that the CoCo Key chain of indoor water park resorts will be opening up its next property in Orlando. The conventional wisdom seems to be that indoor water parks belong farther north in places like Wisconsin, where the promise of lazy rivers, water slides, and palm trees in a climate-controlled, 84-degree environment beckons during winter's frigid grasp. But indoor water parks, such as the Great Wolf Lodge resorts in Williamsburg and Texas, have been creeping southward and have been quite popular.

I think Florida's first indoor water park resort, which will offer weatherproof fun to the hordes of Orlando visitors seeking water park fun, has a great shot at success. What do you think? Take the CoCo Key Orlando poll, and be sure to click on "Comments" below to share your thoughts.

• CoCo Key Water Park Video
• A Lotta Water: Who Has the Biggest Indoor Water Parks?

The indoor water park phenomenon began almost by accident in the 1980s in Wisconsin Dells, exploded throughout the Midwest U.S., and has been expanding all over the country over the past few years. Once associated with northern climes, the alluring concept has even spread into more temperate places such as Virginia and Texas. Now, visitors to the Sunshine State will be able to experience weatherproof water park fun when Florida's first indoor water park resort, CoCo Key Orlando, opens in mid-March 2010.

Will the CoCo Key chain of water parks find success in the theme park capital of the world? I think so. In fact, I'm surprised it's taken this long for the indoor water park revolution to make its way to Florida. (And mark my words; it's only a matter of time before someone opens a water park resort in California.) When folks on an Orlando-area vacation find themselves trapped in a motel room during a cold snap or a spate of inclement weather, I think they'll welcome the chance to don their bathing suits and frolic in the climate-controlled water park. Read more about the CoCo Key Orlando Water Park Resort.

• CoCo Key Photo Gallery
• Find More CoCo Key Water Resorts

Photo: Indoor water park fun is coming to the CoCo Key Orlando Water Resort. ©Arthur Levine, 2007. Licensed to About.com.

The top 10 most overrated roller coasters aren't necessarily terrible coasters. But they are overrated in the sense that they don't meet expectations. Maybe the parks overhype them. Or, perhaps a coaster has not been maintained well, and its current condition doesn't live up to its legendary status. Whatever the reason, these are the roller coasters that leave me the most disappointed. Read my Top 10 Most Overrated Roller Coasters in North America.

• Your Picks for the Most Overrated Coasters- Do you have some rides in mind that leave you less than thrilled? Join the conversation.
• The Roller Coaster at New York New York Las Vegas- One of the most overrated coasters.

Photo: The Time Machine at Freestyle Music Park. © Arthur Levine, 2008. Licensed to About.com.

There's a new way to get wet at Wilderness at the Smokies, the indoor water park resort in East Tennessee. The Runaway Canyon, a family raft ride that opened a few days ago, sends groups of up to four passengers careening in the dark through 450 feet of enclosed water slide. The Wilderness flacks say that the ride includes themed lighting, sound, and music as well as a 360-degree loop. I say riders had better hang on to their bathing suits. The park also includes a FlowRider wave machine for surfing and a funnel ride.

• Fantastic Voyage- Ride review of a family raft ride at sister park, Wilderness in Wisconsin Dells.
• Find More Tennessee Water Parks

Barring an advanced degree from the Hogwarts School of Wizardry, it's tough for mere mortals to get the lowdown on exactly what's going on behind the construction walls at the Wizarding World of Harry Potter land scheduled to open spring 2010 at Islands of Adventure. But mortals who plunk down extra bucks for a premium Blu-ray or Special Edition DVD of Harry Potter and the Half-Blood Prince when it goes on sale tomorrow (December 8) will get a bonus feature with newly released info about the highly anticipated land. The footage will offer reveals about the ride experiences, including the hush-hush Harry Potter and the Forbidden Journey attraction, according to Universal Orlando. Stay tuned Muggles.

• The Wizarding World of Harry Potter Preview Photo Gallery
• The Wizarding World of Harry Potter Map and Preview Video

Photo: Universal Orlando, 2009. Used with permission.

Time-lapsed still photographs shot from a distant perspective and stitched together create what are known as tilt-shift videos. When they are done correctly, they transform full-scale events with real people and places into what appear to be models shot using stop-motion animation on a miniature movie set. The Disney folks have been creating tilt-shift videos of their parks and just released an eerie montage of Epcot. I think the park's pristine grounds help convey the illusion.

In other Mousey news, Disney's California Adventure will replace the long-running Aladdin musical at its Hyperion Theater with a new Toy Story musical. The Pixar-themed production will debut in early 2011.

• Putting the Disney into Disney's California Adventure- Learn about the massive 5-year, $1.1 billion expansion and makeover of the park.
• Soarin' Over California- Review of the landmark DCA attraction.