Posted: December/14/2005 at 2:47pm | IP Logged

By Rick Aristotle Munarriz (TMFBreakerRick)
December 14, 2005

Posted: December/14/2005 at 2:49pm | IP Logged

Six Flags calls off search for suitors CEO ousted; new directors named

By William Spain, MarketWatch Last Update: 4:06 PM ET Dec. 14, 2005

CHICAGO (MarketWatch) -- The last shots in the months-long battle for control of Six Flags Inc. were fired Wednesday as the troubled amusement-park operator announced the end of its sale process, ousted its chief executive and added three members to the board of directors.

Posted: December/27/2005 at 2:45pm | IP Logged

NEW YORK, Dec 27, 2005 /PRNewswire-FirstCall via COMTEX/ -- Mark Shapiro, President and CEO Six Flags, Inc, announced today two key appointments to lead a new division at Six Flags theme parks. Mark Quenzel has been named Executive Vice President of Park Strategy and Management and Chuck Hendrix Senior Vice President of Park Strategy and Management, reporting to Quenzel. As head of the Park Strategy and Management division, Quenzel will oversee all park operations, in-park revenue, ticket sales and safety for the 30 Six Flags theme parks.

"I am excited to welcome Mark and Chuck to this new division of Six Flags," said Shapiro. "They have the leadership, creative skill and expertise to implement new operating strategies and make good on our commitment to improve the guest experience at our theme parks from coast-to-coast. Establishing this new division is the first step in a new era of family entertainment at Six Flags."

Mark Quenzel, 49, joins Six Flags following 15 years with ESPN. At ESPN, Quenzel served as Senior Vice President of Programming and Production. In that capacity, he ran four divisions: Owned Events, Outdoors, Remote Productions and Remote Facilities; and supervised 375 full time employees and 4,000 seasonal providers. Quenzel also was part of the team that created the popular X Games franchise as well as the Great Outdoor Games. During his tenure, he was charged with the oversight of a number of major sport properties and brands such as NASCAR, NHL, MLB and B.A.S.S.

Said Quenzel: "The mission of Park Strategy and Management is clear, to make every day at Six Flags so enjoyable that each member of the family will want to come back as soon as possible. To make this happen, we will richly enhance each park's environment -- expanding guest options while deepening their sense of security and satisfaction. We want each of our parks to be an island of fun."

Chuck Hendrix, 52, brings 35 years of theme park experience to the division. Hendrix has served in General Manager and Chief Operating Officer positions at theme parks in the United States, Mexico, Taiwan and China. He most recently served as Vice President and General Manager at Six Flags AstroWorld in Houston and has been a member of the Six Flags team for a total of 13 years.

Six Flags, Inc. is the world's largest regional theme park.

Posted: January/11/2006 at 4:28pm | IP Logged

Six Flags Announces New Entertainment and Marketing Department
Department to Focus on Providing Enhanced Entertainment Experience for Six Flags Guests Nationwide
1/11/2006 8:01:37 AM

NEW YORK, Jan 11, 2006 /PRNewswire-FirstCall via COMTEX/ -- Mark Shapiro, President and CEO of Six Flags Inc (PKS), announced today the creation of the company's new Entertainment and Marketing department. The department, led by veterans of the entertainment, marketing and communications fields, will focus on creating a rich entertainment environment focused on the family audience at Six Flags parks around the country.

"At Six Flags, our mission is to surround the best rides in the world with entertainment from the fields of music, theater, sports, film and television," said Shapiro. "We want to be about more than rides -- Six Flags must be about a wider, more fulfilling experience. We also look forward to recharging our broad relationship with Warner Bros. through such great brands as Looney Tunes and DC Comics."

The new department, based in New York City, includes in-park entertainment, promotions, licensing agreements, advertising, communications and investor relations.

Former ESPN executive Mike Antinoro will lead the division as Executive Vice President, Entertainment and Marketing. "Mike is a strong and creative leader who will focus on enhancing the Six Flags entertainment experience while fielding dynamic new marketing and communications programs to improve customer satisfaction and drive business and buzz to our parks," said Shapiro.

Antinoro served as the Executive Producer of ESPN Original Entertainment (EOE) through November 2005. EOE is the core creative group that led the ESPN brand into non-traditional sports and entertainment programming. During his tenure at EOE, Antinoro created a number of successful original movies, a critically acclaimed dramatic series, talk, reality and game shows, documentaries and "The World Series of Poker" franchise. EOE won the prestigious Peabody Award in 2002 and since 2000 has been nominated for more than 20 Sports Emmys. Prior to his work at EOE, Antinoro served directly under Shapiro as coordinating producer of ESPN's landmark SportsCentury series.

"I'm incredibly enthusiastic about the opportunity to play a role in the rebirth of the Six Flags brand, and we've put together an outstanding leadership team to support this effort," said Antinoro. "I'm confident that their combination of experience and past successes will help Six Flags achieve new heights in providing the most creative and attractive entertainment environment possible for our Six Flags guests."

Posted: January/13/2006 at 4:35pm | IP Logged

Hedge funds disclose Six Flags stakes Highbridge, Jana hold more than 16% of company's stock

By Alistair Barr, MarketWatch Last Update: 3:29 PM ET Jan. 12, 2006

SAN FRANCISCO (MarketWatch) -- Hedge funds are now major shareholders in Six Flags Inc., the theme-park operator at the center of a proxy battle late last year with Washington Redskins owner Daniel Snyder.

Highbridge, a $7 billion hedge-fund firm part owned by J.P. Morgan Chase  and almost $40 million worth of convertible bonds issued by the company, according to a Securities and Exchange Commission filing on Wednesday.

Jana Partners, a $4 billion hedge fund, disclosed a 7.4% stake in Six Flags stock in late December.

Snyder won a proxy contest to replace Six Flags Chief Executive Kieran Burke in November. The victory was notable because Snyder didn't own a controlling stake in the firm.

The upset was a potent example of the recent increase in shareholder activism, which has been led by hedge funds such as Jana, Third Point, Pershing Square Capital Management and financier Carl Icahn. See full story.

Still, the hedge funds' Six Flags stakes may not have been inspired by activist ideals.

Highbridge isn't an activist investor, while Jana tries to engineer an event or outcome through activism in only about 15% of cases.

In the case of Six Flags, Jana disclosed its stake as a passive investor.

Jana and Highbridge's stakes became more valuable on Thursday as Six Flags shares climbed 6.8% to $9.84.

Glen Reid, an analyst at Bear Stearns, upgraded the stock to outperform on optimism about Synder's plans for the theme-park company.

Asset sales and a push to increase ad revenue should help the company pay off debt, giving equity holders a greater slice of future cash flow, Reid said.

Posted: January/13/2006 at 4:37pm | IP Logged

NEW YORK, Jan 12, 2006 /PRNewswire-FirstCall via COMTEX/ -- Six Flags (PKS) announced today that it has signed OgilvyOne Worldwide, the world's largest one-to-one marketing agency, to enhance and evolve its direct and interactive marketing efforts nationwide. This new marketing partnership is part of Six Flags' strategy to increase company focus on customers and transform the entire park experience to be the number one destination for local family entertainment. OgilvyOne focuses on building positive customer relationships through data-driven communications that leverage customer feedback to deliver more personalized and relevant messages, invitations and experiences.

"We are thrilled to be working with the new management team at Six Flags," said Michelle Bottomley, general manager of consulting and client services, OgilvyOne. "There is tremendous equity in the parks -- and enormous customer loyalty to the Six Flags brand. Our first job is to help unlock the value of existing customer relationships through one-to-one marketing."

"We understand how critical it is to constantly improve our communication with our guests," said Mike Antinoro, Six Flags' Executive Vice President for Entertainment and Marketing. "We look forward to working with OgilvyOne to develop a variety of innovative communication solutions that will help us enhance the overall guest experience."

The company also announced that with its current multi-year contract with Detroit-based W.B. Doner and Company expiring in June, it is planning to put its account up for review.

"In an industry where much of the advertising tends to look the same, Doner has provided us with out-of-the-box thinking that has successfully cut through the clutter to create real awareness for the Six Flags brand on a national level," said Antinoro. "We're now in the process of analyzing every aspect of our business, and we're looking forward to Doner's participation in the process as we investigate how to most effectively build on this awareness."