Six Flags Corp

Pounding hammers and whining saws at Magic Mountain in Valencia signal a new roller coaster dubbed Terminator Salvation and other changes in the works for the summer tourist season. But the noise and excitement about the park's plans can't completely muffle the bad news coming from New York-based parent company Six Flags Inc., which announced Thursday that its stock value had fallen so low that it was being delisted by the New York Stock Exchange. Trading was halted, with shares at 27 cents.

Magic Mountain's corporate roller-coaster ride is over for now: The Valencia theme park is no longer for sale. Park owner Six Flags Inc. announced Thursday that it had sold seven of its 30 theme parks and water parks -- but not Magic Mountain, which local authorities feared would be sold as real estate. "It became abundantly clear to us that this is going to be a great season," Six Flags spokeswoman Wendy Goldberg said. "This is not the time to sell Magic Mountain."

Theme park operator Six Flags Inc. sold 50% more season passes than it ever had before by this point in the year. Passes to Magic Mountain in Valencia grew 33%, and total group sales rose 34% compared with a year earlier, Chief Executive Mark Shapiro said. Season-pass and group sales account for 50% of attendance. The company's shares added 5.3% to an 8.7% gain Thursday after Six Flags agreed to sell seven theme parks. The New York-based company is not selling Magic Mountain.

Theme park operator Six Flags Inc. on Thursday reported a wider fourth-quarter loss after writing down the value of seven locations it planned to sell. The loss was $189.7 million, or $2.07 a share, compared with $139 million, or $1.55, a year earlier, the New York-based company said. Sales were little changed at $104.3 million. Six Flags reduced the value of the parks it had agreed to sell for $312 million to PARC Management, a closely held company run by former amusement park executives.

Washington Redskins owner Daniel Snyder is playing offense in the entertainment industry, buying Dick Clark Productions Inc. in a deal valued at $175 million and planning to digitize the company's extensive library of live-music performances. Snyder's private-equity firm, RedZone Capital, acquired a 60% stake in the Burbank-based company. Six Flags Inc., of which RedZone is the largest shareholder, took the rest.

Six Flags Inc., the second-biggest U.S. theme-park operator, closed a free-fall ride at four of its parks after a cable snapped on the attraction at its Louisville, Ky., park and severed the feet of a 13-year-old girl. Cedar Fair, operator of amusement parks including Knott's Berry Farm in Buena Park, said it temporarily shut down five similar rides at its locations. Rides at Knott's Berry Farm and Six Flags' Magic Mountain in Valencia were not affected.

Six Flags Inc., the second-largest U.S. theme-park operator, reported a wider loss on spending to draw more families with children. The second-quarter loss was $45.4 million, or 54 cents a share, compared with a loss of $39.6 million, or 48 cents, a year earlier, the New York-based company said. Revenue rose 6.1% to $344.8 million. Chief Executive Mark Shapiro increased attendance by catering to families instead of teenagers. The company spent more to add fireworks, shows and parades.

Six Flags Inc., the second-largest U.S. theme-park operator, reported third-quarter profit and sales below analysts' estimates. Six Flags fell 44 cents, or 16%, to $2.25. Third-quarter profit dropped 46% as attendance fell on bad weather in Texas and Georgia in July, Six Flags said. The company was also hurt by bad publicity after a 13-year-old girl's feet were severed on a ride at its Kentucky park in June. Net income decreased to $89.7 million, or 61 cents a share, from $164.7 million, or $1.

For the middle-age Houstonians digging through bargain bins of T-shirts, two-foot-long Texas-size combs and other park souvenirs, it was a chance to reminisce, and even get a little misty about the passing of an era -- when Houston changed from a cow town to Space City, the Astrodome was the last word in modern engineering and AstroWorld was the definition of groovy summertime fun.

Six Flags Inc. hired a former ESPN producer to run a new unit aimed at increasing entertainment and sponsorships at the struggling theme-park operator. Mike Antinoro, who created ESPN's "World Series of Poker," will be responsible for in-park entertainment, licensing and advertising, Six Flags said. The division will be based in New York to draw talent from the city's entertainment industry.