What will the future hold for Six Flags' new owners?
Written by Robert Niles
Amusement park chain Six Flags yesterday emerged from bankruptcy, with new owners, some new cash and soon... a new board chairman.Tweet
Current chairman Dan Snyder (known to sports fans as the owner of the Washington, DC NFL franchise), who lead the takeover of Six Flags from the former Premier Parks management team in 2005, will no longer hold a seat on the company's board of directors, according to a bankruptcy court filing.
Six Flags CEO Mark Shapiro will remain on the board and in his current job, suggesting that the bondholders who've gained control of the company aren't planning day-to-day operational changes at the company or its parks.
Shapiro says that emerging from bankruptcy will free up money for the parks to spend on improvements going forward. But higher attendance, and increased guest spending, would help even more to make that happen.
What do you think about the future of Six Flags, both as a company and as a theme park chain?
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