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BUSINESS
April 7, 2010 | By Tom Petruno
Cedar Fair Entertainment Co., the amusement park owner whose properties include Knott's Berry Farm in Buena Park, on Tuesday called off its buyout deal with private equity firm Apollo Global Management after major shareholders objected. But Cedar Fair stock rose on speculation about other possible merger ideas. The Ohio company said it pulled out of the deal because the transaction lacked "the required level of investor support." The firm said it would take time to consider its "next steps."
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BUSINESS
May 2, 2010 | By Hugo Martín, Los Angeles Times
When the last Jungle Cruise boat docks for the night and lights fade to black on Sleeping Beauty's Castle, the real work begins. At lush Pixie Hollow, gardeners don miner's headlamps as they begin uprooting stubborn weeds. On Main Street, custodians scrape chewing gum off the sidewalk. And over at Mickey's Toontown, painters sand and recoat chipped handrails. Few see it happen, except perhaps for the dozens of feral cats that emerge from their hiding places to prowl the park after hours, stalking rodents.
BUSINESS
November 10, 2007 | From Times Wire Services
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.
BUSINESS
January 12, 2007 | Alana Semuels, Times Staff Writer
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."
BUSINESS
March 12, 2009 | Nathan Olivarez-Giles
Six Flags Inc., which owns Magic Mountain in Valencia and 19 other theme parks, said Wednesday that it might need to file for Bankruptcy Court protection if the company can't restructure its debt by mid-August. An overhaul of Six Flags' debt is highly uncertain, the New York-based company said in a regulatory filing, causing auditor KPMG to have significant doubt about the theme park company's ability to continue as a going concern. At the center of its financial worries is an Aug.
NEWS
August 19, 2011 | By Brady MacDonald, Los Angeles Times Staff Writer
Well, that didn't last long. Six Flags Magic Mountain will relinquish sole ownership of the coveted title of " Roller Coaster Capital of the World " later this year when the Valencia, Calif., amusement park removes one of its record-setting 18 coasters. Magic Mountain boasted of nabbing the coaster title when the Green Lantern: First Flight spinning coaster officially opened in July. The removal of Deja Vu will move Magic Mountain back into a statistical tie with Cedar Point in Ohio, which also has 17 coasters.
NEWS
July 24, 2011 | By Brady MacDonald, Los Angeles Times Staff Writer
Reporting from Six Flags Great Adventure in Jackson, New Jersey-- Six Flags Great Adventure in Jackson, N.J., has a long and winding roller coaster history that's filled with as many twists and turns as the amusement park's many record-breaking rides. Photos : Top 10 Six Flags Great Adventure roller coasters Great Adventure was a must-see on my road trip across America's coaster belt, in large part because of the park's three world-class rides: El Toro, Kingda Ka and Nitro.
NEWS
November 25, 2010 | By Brady MacDonald, Los Angeles Times Staff Writer
Wham! Bam! Ka-Pow! A bruising brawl involving comic-book superheroes, Saturday morning cartoon characters and extreme sports icons will change the ride and roller coaster landscape of Six Flags' 11 U.S. amusement parks in 2011. An intellectual property housecleaning at the amusement park chain has left Bugs Bunny, Superman and Scooby-Doo victorious and Thomas the Tank Engine, The Wiggles, Evel Knievel and Tony Hawk vanquished. In a sudden about-face, Six Flags is undoing several licensing agreements established since 2007 for 60 amusement park rides and attractions.
BUSINESS
November 9, 2005 | From Reuters
Washington Redskins owner Daniel Snyder's Red Zone investment management company urged Six Flags Inc. shareholders to back its plan to replace the Six Flags chief executive and some board members. The public battle between Snyder and Six Flags CEO Kieran Burke has been growing since August, when Red Zone announced plans to oppose three incumbents on the board. Snyder also said he intended to raise his stake in Six Flags to 34.9% from 11.7%. A week later, Six Flags said it was up for sale.
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