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brief history of The Taft Broadcasting Company of Cincinnati began as owner and operators of radio and television stations. In 1957, Taft entered into the production and distribution business with the purchase of Hanna-Barbera Productions after closure of MGM's cartoon production operations. Taft subsequently acquired World Vision video production and distribution. During the early 1960's, Taft expanded its broadcasting holdings in addition to its flagship stations in Cincinnati, WKRC-TV, WKRC-AM and what is today WKRQ-FM. Taft branched out into the entertainment business in 1969 with the purchase of the Coney Island amusement park in Cincinnati. The initial idea was to promote its cartoon characters it owned through Hanna-Barbera. The owners of Coney at the time, the Wachs family, did not have the capital or the space to expand the park. Soon after the sale of Coney, Taft announced that 1,600 acres had been purchased in Kings Mills, just north of Cincinnati and would become the home to a new theme park, called Kings Island. Coney Island closed after the 1971 season to much fanfare. When Kings Island opened in April, 1972 many of the rides at Coney Island, including Turnpike, the Log Flume, the Carousel, the Tumble Bug, Monster, Scrambler, Giant Slide, Round Up, Flying Scooter, Galaxi, Sky Ride Rotor, Cuddle Up and Dodgems found a home on Kings Island's midway. In 1975, Kings Dominion theme park was opened by Family Leisure Centers, a joint venture between Top Value Enterprises and Taft Broadcasting. The Family Leisure Center's joint venture was dissolved in 1980 and Kings Dominion became a wholly-owned subsidiary of Taft Broadcasting. In the following year Taft became the majority stockholder of Canada's Wonderland park near Toronto, Ontario. In 1983, Senior executives with Taft Broadcasting purchased the theme park division of Taft and formed Kings Entertainment Company (KECO) with Kings Dominion, Carowinds in Charlotte, NC, Kings Island and Canada's Wonderland. KECO subsequently purchased the Marriott group's theme park arm. Taft abandoned the theme park business and concentrated on its television, radio and distribution divisions. Taft did maintain ownership in what was left of Coney Island. Coney's swimming pool was kept open over the years after the park had shut down. In 1985, after the city of Santa Clara, California purchased Great America from Marriott, KECO was recruited to manage the park, resulting in a five-year contract that included a purchase option. In 1989, Dudley Taft Jr, son of former chairman Dudley Taft Sr, lost control of the company in a hostile US$1.5 billion takeover by another well-known Cincinnati company, Great American Broadcasting and Great American Insurance CEO Carl Lindner. Lindner and co-worker Ronald Walker developed a company called Park River to operate and manage Coney Island. Walker began adding rides to the park through the 1990's and later purchased Americana Amusement Park in Middletown, Ohio. Park River continues to own and manage Coney Island and sold Americana in 2000. In 1992, Ted Turner (a former Cincinnatian) purchased Great American’s production and distribution arm, including Hanna-Barbera. World Vision Distribution was purchased by Spelling, who was then purchased by Viacom. Great American’s broadcasting stations were then reorganized as Citicasters and shortly thereafter merged with Clear Channel. In 1993, KECO sold their interest to Paramount Communications, who was owned by Viacom.
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Broadcasting,
the Kings Entertainment Company, and Great American Broadcasting