In 1989, the publicly listed Sea World Property Trust who owned its namesake theme park coordinated a three-way venture to acquire Wet'n'Wild Water World from the Herringe Group of Companies and build the adjacent Warner Bros. Movie World theme park. The two other companies involved in the venture were American multinational media corporation Time Warner and fellow publicly listed Australian firm Village Roadshow Limited. The joint venture known as Warner Village Theme Parks was led by Chief Executive Officer John Menzies. Prior to the formation of the company, Menzies was Managing Director of Sea World.