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:
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