In 1992, Pivot Leisure sold its two-thirds stake of the Sea World Property Trust to AOL Time Warner and Village Roadshow Limited. In April 2001, AOL Time Warner and Village Roadshow Limited announced plans to acquire the remaining 31.6% of Sea World Property Trust that they did not already own. This would also mean the ownership of Warner Village Theme Parks would lie entirely with the two firms. However, the takeover bid failed as the two firms were only able to acquire 85.65% of the trust, just shy of the 90% required for compulsory acquisition. A second takeover bid of Sea World Property Trust was put forward in December 2001. This bid was ultimately successful, with compulsory acquisition beginning in February 2002, and the delisting of the Sea World Property Trust from the Australian Securities Exchange in April 2002.