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Six Flags sells seven parks for $300,000,000


Matt [Redskins Fan]

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Looks like Danny's been a busy boy:

http://www.usatoday.com/money/industries/2007-01-11-six-flags-sale_x.htm

NEW YORK (Reuters) — Six Flags (SIX) said Thursday that it sold three water parks and four theme parks for $312 million as part of its efforts to reduce debt, sending its shares surging.

The amusement park operator has been reworking its business since a shake-up of its board and top management after investor Daniel Snyder won a long-running battle for control of the company in 2005. Six Flags has since been focusing on families and improving its financial position.

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Interesting note about Six Flags Magic Mountain

Six Flags Magic Mountain and the adjacent Hurricane Harbor water park in Valencia, Calif., which were on the block, will be retained and open for business in 2007, the company said.

My dad was rather shocked when he recently visited California that Magic Mountain was closed. We visited there a lot when I was a kid, along with Disneyland and Knott's Berry Farm. Good to hear that it is reopening.

Jason

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My dad was rather shocked when he recently visited California that Magic Mountain was closed.

I don't think they were closed for any extended period of time. They've been operating more or less continuously -- but the rumor was that they'd soon shut down, be sold to developers, etc.

Sounds like they're fine for the intermediate future, though. I haven't been there since about 2000, when Goliath was the Next Big Thing. I hear mixed reviews of the place these days -- as is the case with most Six Flags parks.

I doubt we've seen the last cull of the Six Flags/Premier Parks herd...

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