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fromdust

SIX FLAGS

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oklahoma city-based 6 flags inc. put itself up for sale thursday in a move designed to curtail the takeover bid of wash redskins owner dan snyder.

6 flags shares shot up 72 cents to $7.26 on the nyse. analysts arent sure if another theme park company will buy it since it has a debt of 2.2 bill.

seems like okc's highest profile company might end up leaving.

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one of six flags largest investors, wallace r. weitz & co, may take a more aggressive mode in the companys future. wallace owns 10.6% of the company. the firm said it would like to talk to 3rd parties about ideas for the company.

wallace is the 3rd largest owner of 6 flags stock after redskins owner dan snyder and microsoft co-founder bill gates.

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in a filing to the u.s. securities and exchange commission, dan snyder notified six flags that he thought it was inappropriate for them to sell astroworld in houston.The filing went on to share that Red Zone has informed Six Flags that "any asset liquidation or additional severance or change in control agreements with the company's executives would impermissibly frustrate the stockholder franchise and if the Board or management takes any action which is detrimental to the company or frustrates the stockholder franchise."

6 flags said the sale of astroworld at its real estate value could be as much as 145 million.

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Here is some good news on the six flags front.Six Flags, Inc. announced this afternoon it is expecting a revenue increase of about $50 million for the third quarter 2005.

As a result, Six Flags officials indicated, revenues for the first nine months of 2005 are expected to have increased approximately $85 million, or 9.5 percent over the same period for 2004.

The revenue increases likely will boost the company's perceived value. In recent months, various shareholders have been acquiring large blocks of the company's stock, most notably Washington Redskins owner Dan Snyder, and have expressed criticism about its operations and desire for new management.

Six Flags also indicated today that future SEC filings would classify Six Flags AstroWorld in Houston as a discontinued operation. The amusement park, was permanently closed recently.

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It's now official, Six Flags has announced that it's moving it's headquarters to New York and shutting down it's corporate office in Oklahoma City. They will also be selling their Oklahoma City parks, Frontier City and White Water Bay, to unload excess debt.

http://www.dfw.com/mld/dfw/13729010.htm

Does anyone think this will affect the quality of these parks being run by someone else?

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Hopefully it will make them BETTER... Moving one or both to a better location (riverside?) would be costly but also more profitable than keeping them in their current out of the way locations. Last time I was at Frontier City, there were no lines at all. No wonder they were losing money.

Smaller owners can only help the parks, I think.

Six Flags was a big name for OKC to have located here, but really nothing more. 50 employees is nothing compared to what Chesapeake, KM, Devon, and even Dell do for us. They didn't even build a Six Flags in their corporate city. Losers.

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Hopefully it will make them BETTER... Moving one or both to a better location (riverside?) would be costly but also more profitable than keeping them in their current out of the way locations. Last time I was at Frontier City, there were no lines at all. No wonder they were losing money.

Smaller owners can only help the parks, I think.

Six Flags was a big name for OKC to have located here, but really nothing more. 50 employees is nothing compared to what Chesapeake, KM, Devon, and even Dell do for us. They didn't even build a Six Flags in their corporate city. Losers.

Yeah I guess that's why I was rather surprised to find out their headquarters was located in OKC.

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Hopefully it will make them BETTER... Moving one or both to a better location (riverside?) would be costly but also more profitable than keeping them in their current out of the way locations. Last time I was at Frontier City, there were no lines at all. No wonder they were losing money.

Actually they are both highly profitable for their size. The only reason they are being sold is because the new Six Flags suits want to focus on the bigger parks in regional centers like DFW and Chicago. They are expected to sell other smaller parks like Elitch Gardens in Denver and the park they have in Seattle.

It is true that they are in slight disrepair, more so with White Water. I think Frontier City is in a nice, hilly, wooded location on a major interstate with lots of visibility. As much as a Riverside park would be nice, it's probably not going to happen (not to mention Tulsa's Bells is to move to their riverside). Frontier City includes a lot of undeveloped land. I think the White Water slides should be moved to the FC location, thereby making a combined water/theme park that would be more of a draw (works well in San Antonio, Denver, and KC). They also should add more large rides including roller coasters. That would help a lot.

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They don't own Branson's White Water. Never did. White Water was its own chain and they were all closed or bought up by other companies. That one is owned by Silver Dollar City, so not to worry.

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I'm sure Six Flags Over Texas is safe. Fiesta Texas might be one of the parks they intend to get rid of in the long run. Also, they plan a more family-oriented park system, so don't expect a new thrill ride every year anymore.

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Frontier City and White Water Bay have been sold to a Florida real estate investment firm along with Six Flags parks in Denver, Buffalo, Seattle, Houston, and Concord, CA. As for now, the company, PARC, says it will continue to operate the properties as theme parks, and all are set to open for the 2007 season.

I think this could be a good thing. They say they want to bring the parks back to their former glory. Hopefully we'll see a lot of improvement at the parks. Frontier City could use some sprucing up and White Water has gotten real dumpy. And both parks need new rides.

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