NEWS: Six Flags Update! Premiere Out, Red Zone In!

[robbalvey]

http://www.marketwatch.com/news/story.asp?guid=%7BF7E36798-046E-4289-8C6D-BCDD97C5167A%7D

 

Snyder wins in Six Flags board battle

 

Six Flags management conceded that shareholders had voted to oust the board members and replace them with a slate put forward by Snyder, the owner of the Washington Redskins.

 

Chief Executive Kieran Burke, Chief Financial Officer James Dannhauser and Stanley Shuman have been replaced on the board effective immediately. Taking their seats are Snyder, ESPN executive Mark Shapiro and Dwight Schar.

 

Shares of Six Flags ended the day up 1.4% at $7.50.

 

In a brief written statement, Six Flags said that the results of a consent solicitation pushed by Snyder's Red Zone had been certified by independent inspectors.

 

Red Zone's other proposals, including amendments to various company by-laws, were also adopted, Six Flags added.

 

A company spokesman declined to comment on whether Burke or Dannhauser planned to step down from their executive positions.

 

Snyder, who owns about 12% of the company, launched his attempt to gain control of Six Flags last summer. The company responded by putting itself up for sale and said as recently as last week that it was committed to "moving as expeditiously as possible" toward completing that process.

[robbalvey]

And here's another disturbing story:

http://sanantonio.bizjournals.com/sanantonio/stories/2005/11/28/story1.html?page=2

 

If Red Zone's overhaul plan is approved by Six Flags shareholders, Shapiro plans to spend the first 30 or so days visiting all of the parks. His evaluation process will include a trip to San Antonio, a market that Speigel says may have overdone it on the theme park front.

 

Speigel has previously defined Fiesta Texas as a "mediocre performer," while contending that the San Antonio market "was always hindered by having two major parks there."

 

Amusement Business ranks Fiesta Texas dead even with Six Flags' Astroworld in Houston at 39th in the nation in terms of 2004 theme park attendance. According to Amusement Business, 1.4 million visitors passed through Fiesta Texas and Astroworld each last year -- roughly half the number, for example, who visited Six Flags Great Adventure in New Jersey.

 

In September, Six Flags announced that it was closing Astroworld this year and selling off the 109-acre site.

 

Could Six Flags Fiesta Texas be the next park on the chopping block????

[SharkTums]

Very Interesting.

 

I've always said that you wouldn't believe it, but a lot of what we consider the 'crappy Six Flags Parks' make all the money, while a really top notch Six Flags Park like Fiesta could be gone soon.

 

I'd be sad to see it go, but I wouldn't mind having Poltergeist or Road Runner at SFMM!

[DRWP2005]

I really hope its not next, that is one of my favorite 6 flags parks when I was there. The scenery there I thought was really beautiful. Just a really neat park, I hope its not next...

[ParkTrips]

Horray!, I really do think this is for the better.

 

LOL @ Robb having to be edited by Elissa. Do you still have to feed him and change his clothes?

 

Interesting shiznit about Fiesta. Just as I was planning on driving over to the park when I visit my family in the Houston area...

[coasterdude5]

Wow, I didn't think Fiesta Texas was that bad...

 

I doubt they'll close it though.

[coasterboi]

How Many Six Flags Parks In Texas Are They Going To Close Over The Next 2 Years

 

[My 81st Post]

[Real]

I think with Astroworld gone, they will give it a chance to see if attendance doubles because of it.

[yesac519]

:shock: :shock:

SFFT IS MY FREAKIN LOCAL PARK

 

THEY CANT CLOSE IT..THAT WOULD

KILL ME...Then I would have to drive 6

hours to get to SFOT!!!

[trustkill22]

I have a feeling that they want to try and double the attendance at Over Texas but it's not going to happen then just screw themselves over and it will come up from behind them and kick them in the ass and make them think a little while longer before closing a park.

[Homer]

Anybody think this is sort of hypocritical that Snyder was against the closure of SFAW? Yet he wants to close a park thats within a distance of Astroworld and has a similar attendance margin.

[Guy T. Koepp]

If they promise to add 150' onto the upshot tower, we'll take it as well.

 

Guy "6FMM needs a tower ride badly." Koepp

[GAcoaster]

It may be that they end up selling the park (to CF). I definitely see them selling off more of the under-performers.

 

Remember that like Astroworld, Fiesta Texas was something of a flop until Six Flags took over managing it. Just because it was in a big chain that could subsidize it doesn't mean it was a good idea to keep it.

 

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I want to believe good things will happen under Snyder's control, but I fear the worst. Keep in mind that Snyder now controls 3 of the 7 board seats, still not a majority. Will the other board members vote with Snyder and his buddies, probably, but there are still unknowns which we'll have to wait and see.

[Scaparri]

This seems a bit idiotic if you ask me. Yeah SFFT is one of the nicest parks in the chain, but you aren't go to bring mass amounts of people in when you don't add anything significant for five years. With the closure of SFAW, it seems like the park is bursting with potential now. With the addition of something major and the fact the SFAWs clientele have to go elsewhere, you would think attendence could get quite the boost, despite SeaWorld.

[texcoaster]

Fiesta was a flop because there wasn't much to do there other than shows. Good shows, but still shows. When SF took over, they added FIFTEEN RIDES in ONE SEASON. That will boost ANY park's attendance. It wasn't the management style that got them going, it was the ride package.

 

As for closing it, I think they will have major probs at SFOT if SFNO, SFAW, and SFFT are all closed. SFOT is already too crowded most weekends (when outof-towners visit) and dumping the crowds from those other parks in there will make the SFOT experience miserable. Spend 12 hours at the park on a Saturday, ride 6 rides. Whee.

[coaster1]

Fiesta and SeaWorld draw different demographics. SeaWorld is the stroller capital of the world while Fiesta is more teens and whatnot.

 

Fiesta's attendance may increase a bit, but Houston is still 4 1/2 hrs from Fiesta and SFOT is 4 1/2 from both Houston and Fiesta .. so don't expect that big of an increase in attendance. Plus Fiesta is a nice park with wolrd-class shows.

[ChrisZer0]

SFFT is one of nicer parks in the chain. I have a feeling that CF will pick them up if they do get sold off.

[kenshinmac]

Hmm... Ouch... This seems like it is gonna hurt the chain...

 

I can't help but feel that it means the smaller parks are going to get screwed harder than they were under premier and that some of the larger parks will close if they are seen as underperforming... Thats not what I want...

[qphayes]

Well, I am officially saddened! This is the worst news I have heard for Six Flags in a very long time!!! I dread what will happen to SFEG... I have been going there since the early 70s, been through many transitions as an employee there... including relocating the entire park, and now I have a feeling that this is one park that Snyder will find to be insignificant as it is one of the smallest parks in the chain!

 

Cedar Fair, I again ask that you please save Six Flags from the grasp of Snyder!!!

[DATman]

Don't forget, bye Mr. Six, hello "Safe, clean, fun" (WTF marketing plan is that-Mr. Six is way better)

 

 

Seriously, what idiot came up with that?

[ParkTrips]

How can looking to drop a "mediocre performer" hurt the chain?

 

I always wondered how a city like San Antonio supported two parks, but Fiesta seemed to be fairly consistent in performance to me. I mean, you can't expect groth to apear out of nowhere, there has to be some spark.

 

If Snyder returns Six Flags to what it used to be - a group of large, well-off parks that is, as a whole, much more profitable than they SF of the past few years, then I'm all for it. Hell, maybe parks like Darien Lake and NewEngland could head back to those original operators

 

edit: I'm pretty sure 'Clean, Safe, Fun' was already within the company

[Gnome]

What they really need to work on is atmosphere appeal in some of thier parks, in particular, SFMM. WOuldn't it be cool if they temporarily closed down Scream, dismantled it, then placed down grass like they did for S:UF at SFGadv and then reopened it? That in itself would make that area a heck of a lot nicer.

Also, they need to get rid of those carny flats. They're so hidious to look at, and I don't think anybody except a very small fraction of GP ride them. I mean hell, most of the GP don't even ride them so why keep it?

[PhishyBrewer]

Can you hear it? Do you? ...it's the winds if change.

 

I think this stuff is kind of exciting. I'd like to see what changes will be made. Will Snyder and hid team succeed, or fail miserably.

 

This beats any reality show out there

[Gnome]

And with reading that, CBS quickly gathers a team to get a contract ready so they can document every aspect of the new Six Flags Management as it will be the new reality show for next year's fall line up.

[Token Yankee Guy]

I always thought SFFT was a good park. I hope when they check out SFNE it gets a good review. Because SFNE is the largest theme park in New England and draws in a good size crowd in it's seasons.