YOU ARE HERE: LAT HomeCollectionsSix Flags

Six Flags

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."
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.
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."
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.
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.
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.
December 2, 2005 | From Bloomberg News
Six Flags Inc., the world's second-largest theme-park operator, said Washington Redskins owner Daniel Snyder was elected nonexecutive chairman. The company also said it was continuing its previously announced sale process and expected final bids to be received by the middle of the month, Oklahoma City-based Six Flags said.
May 15, 2002 | Bloomberg News
Six Flags Inc., owner of 38 amusement parks in North America and Europe, said its fiscal first-quarter loss narrowed as costs rose less than sales and the company's properties had more visitors. The loss narrowed to $113.7million, or $1.23 a share, from $140.6million, or $1.76, a year ago, Six Flags said. Sales rose 40% to $49.3million. Six Flags shares rose 64 cents to $17.57 on the NYSE.
October 3, 2008 | From Times Wire Services
Six Flags Inc., the second-largest U.S. amusement-park chain, said it was not in compliance with the listing standards of the New York Stock Exchange because its share price has declined. As a result, Six Flags may consider a reverse stock split, the company said. The NYSE requires companies to have a closing price averaging more than $1 over a 30-day period. Six Flags' average 30-day price was 96 cents as of the close of trading Thursday.
Los Angeles Times Articles