The Finch Formerly Known As Gold

25 August 2005

You must be this rich to buy this ride

Six Flags, Inc. is for sale: the Oklahoma City-based theme-park operator, which has been in a financial hole for years and is facing a hostile takeover by Washington Redskins owner Dan Snyder, says it will take the highest bid, even if it's Snyder's. At current stock prices, the company is worth around $650 million; Snyder's Red Zone LLC is currently the largest single shareholder in Six Flags, with a stake of approximately 11.7 percent.

Two things can be expected from the eventual sale:

  1. The company will be put on a firmer financial footing than it's on now;
  2. Headquarters will almost certainly be moved out of Oklahoma City. (The financial offices are in New York.)

Six Flags did actually turn a profit last quarter and likely will do so again this quarter; attendance at Six Flags parks rose more than 8 percent during the first half of 2005.

Posted at 11:26 AM to City Scene

They've changed hands a couple of times since the 60's. Dunno what is is about them.

Posted by: aldahlia at 4:31 PM on 25 August 2005

No wonder it costs fifty bucks to wait on a two-hour line to ride a 90-second roller-coaster. Fortunately the four-dollar hot dog stand is close by.

Did I just describe Six Flags or Saturday night?

Posted by: Nightfly at 10:16 PM on 25 August 2005