Home›ETFs & Funds›Hedge Funds›Jana Partners urges Six Flags board to explore potenti…

Jana Partners urges Six Flags board to explore potential sale

Six Flags posted a $202.6 million net loss in the latest quarter, more than double its year-ago loss, as it works through a turnaround.

Reported · Written up by our desk · Hedge Funds

Activist hedge fund Jana Partners is stepping up pressure on Six Flags Entertainment, urging the amusement park operator's board to appoint an investment bank and investigate a potential sale of the business, according to Hedgeweek citing the Wall Street Journal.

The campaign follows Six Flags' disappointing second-quarter results, when the company reported a net loss of $202.6 million, more than double the $99.6 million loss recorded in the same period a year earlier.

Hedgeweek also notes that there is no indication Six Flags has agreed to launch a sale process. Jana has been involved with the company since last year, previously pushing for strategic alternatives alongside operational changes.

Jana's latest push comes as Six Flags pursues a turnaround amid declining attendance and rising costs, including streamlining its portfolio by disposing of non-core parks and closing a Maryland location after the 2025 season.

More like this

Sources