November 3, 2008
NY Water Taxi to acquire Circle Line Downtown
 The New York Water Taxi has entered into an agreement to acquire Circle Line Harbor Cruise, the companies announced this morning.
Circle Line Harbor Cruise, LLC, also known as Circle Line Downtown, last year lost the monopoly to operate the ferry service to the Statue of Liberty and Ellis Island.
Tom Fox, currently Chief Executive Officer of New York Water Taxi, will be the Chief Executive Officer of the combined company, according to the statement issued by the Water Taxi.
A Water Taxi spokeswoman declined to reveal the price for the acquisition, and said more information will not be available in December. Both companies are privately held and not required to publicly disclose terms of the deal.
“The companies will continue to operate independently until the transaction is completed in December,” according to the statement announcing the deal.
The New York Water Taxi runs a number of tourist-targeted boats, commuter routes often subsidized by the city, and the free service to Ikea in Red Hook, Brooklyn. It has come up for criticism by commuters who complain the service is cut back or canceled during the winter. Currently, the Water taxi was set to cancel its East River commuter service as of October 31, but the website currently advises:10/31/08: New York Water Taxi is working with the City of New York to continue the East River ferry service through the winter months. New York Water Taxi will continue the East River service under the current schedule as we continue our discussions with the City. Thank you very much for your patience and support for the service.
Circle Line Downtown, which for decades has been a separate company from Circle Line Uptown, operates cruises from the South Street Seaport, including the large Zephyr and the Shark speedboat. It has teamed up with the South Street Seaport Seaport Museum and other groups to offer the less-touristy Working Harbor tours as well.
Picture credit: Amy Langfield/NewYorkology
Earlier: Circle Line adds cruises, but LaGuardia ferry on hold
November 3, 2008 8:54 AM in Downtown, Out of Manhattan, Sightsology, Tours, Transportology
Comments (0)
®Copyright 2004 - 2010, All Rights Reserved
|
