Overview
- JANA Partners unveiled an investor group with roughly a 9% economic interest in Six Flags that includes NFL star Travis Kelce, consumer executive Glenn Murphy and tech executive Dave Habiger.
- Managing partner Scott Ostfeld disclosed the position at the 13D Monitor Active-Passive Investor Summit, saying the group will engage the board on ways to enhance shareholder value and the guest experience.
- Reporting describes likely focus areas such as branding and marketing, operations and technology, leadership and governance reviews, and potential transactions, though no changes have been announced.
- Six Flags said it welcomes shareholder perspectives and plans to continue initiatives to increase attendance, improve the guest experience and drive profitable growth.
- The campaign follows a difficult year for the company, including a $319.4 million first-half loss, a drop in attendance, park closures and the planned departure of CEO Richard Zimmerman by year-end.