Jana Partners again calls for Six Flags sale

PDXPointer:

Ever since the merger was announced, I have convinced that the overwhelming debt of Six Flags was going to swamp Cedar Fair.

It was not any more overwhelming than Cedar Fair's. Six Flags brought in around 2.5 billion, Cedar Fair around 2.2 billion.

But the difference is Cedar Fair parks were profitable, growing and generally well managed. With $300 million less debt on the balance sheet than SIX.

Six Flags parks were in a free fall financially (double digit revenue and margin declines), poorly managed and park infrastructure deteriorating.

MDOmnis:

They really need to figure out something creative, but low in capital expense to get people to show up for a couple years without big capital investments so they can pay down some debt.

That was called 2026.... how is that turning out?

Chicago07:

But the difference is Cedar Fair parks were profitable, growing and generally well managed. With $300 million less debt on the balance sheet than SIX.

I would agree that the lack of profitability and management were overwhelming, but not the debt, as the member I quoted was ascerting.