Struggling Six Flags looking to sell underperforming parks; announces new CEO
Amusement park company Six Flags stock is up 7% today on news that the company will be looking to shed its underperforming parks — likely at the behest of a group of activist investors which owns 9% of the company and includes activist investor JANA Partners and Taylor Swift’s husband (and football player) Travis Kelce.
The company separately announced that its outgoing CEO will be replaced by former Palace Entertainment U.S CEO, John Reilly. Palace owns parks mostly in the Northeast including: Splish Splash of Calverton, NY and Dutch Wonderland (!) of Lancaster, PA.
Even with the rise, the stock has absolutely been on a rollercoaster straight down this year:
Lily O'Neill, ExpressNews
Six Flags eyes closing more parks after revenue falls during peak summer month
BusinessWire, Yahoo
Six Flags Appoints John Reilly President and Chief Executive Officer