Jana Partners pushes Six Flags to hire bank and explore a sale

The Wall Street Journal··US·Read original
3▲0 ▼1Impact / 5
Summary · why it matters

Jana Partners has urged Six Flags Entertainment to hire an investment bank and explore a sale, according to The Wall Street Journal. The activist hedge fund cited disappointment with Six Flags' second-quarter earnings in its call to the company's board, the Journal reported. In its most recent quarterly report, Six Flags disclosed that its net loss grew to $202.6 million, compared with $99.6 million in the same period a year earlier, and as of Tuesday its market capitalization stood at approximately $1.2 billion, with shares having lost around 42% of their value over the preceding twelve months. Six Flags has been working to turn around its business as fewer guests visit its parks, divesting seven parks it considered noncore to EPR Properties and shuttering an additional location in Maryland following the close of the 2025 season. Jana Partners, founded by Barry Rosenstein and based in New York, entered Six Flags as an activist investor last autumn with a roughly 9% stake worth approximately $200 million at the time, alongside a group of co-investors, and initially pushed for better marketing, improved park experience, modernized technology, refreshed leadership and an evaluation of a potential sale; as part of that campaign it teamed up with Kansas City Chiefs tight end Travis Kelce, who has since agreed to serve as a brand ambassador for Six Flags.

Impact on assets 2

Consumer Discretionary▼ · 1 stocks
Six Flags Entertainment Corporation
FUN
▼ NegativeCapitalrelevance

Activist Jana Partners is pushing Six Flags to hire a bank and explore a sale after disappointing Q2 earnings and a widening net loss.

Real Estate▲ · 1 stocks

Off-coverage companies 1

JANA PartnersPrivate± Mixed
relevance

Jana Partners is the activist pushing for a sale, but the article reports its campaign rather than a clear positive or negative for the fund itself.

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