Before i'd say yes a new owner needs to happen now, but lets see if new CEO know's how to play the cards.

Cedar Fair is great

But it wouldn't be terrible if somebody else owned it

That would depend on who the somebody else was. CBS dern near killed the park once already....

I think Paramount did a better job with branding, advertising and all around themeing.

Logically so... Paramount (under CBS and Viacom) had pretty extensive resources in branding, advertising, and themed-element production. Even outside of film properties (which were under the Paramount Pictures umbrella, separate from Paramount Parks even if they shared a name and common owner) Viacom / CBS's partnerships and complex connections defined the park. Coca-Cola? MTV? Star Trek? Nickelodeon? Mach 3 razors? A web of connections and transactions there...

Kings Island was burgeoning. Some say Kings Island looked to be becoming a destination attraction...

For many families that I know in Indy, going to the camp ground for the week, and spending most of their time at the park was their family vacation for the year. I know as a kid we did that several times and visited for at lease for the weekend every year. Most of the people that we know that did that stopped when the campground closed. I used to make weekend trips to the campground and KI myself when I was old enough to go by myself. Camping and having KI next door to your campground made it a a destination park for a lot of smaller budget families. I get asked at least once a month by fellow campers and people that know I frequent KI about them getting a campground back.