Thursday August 25, 8:00 am ET

NEW YORK--(BUSINESS WIRE)--Aug. 25, 2005--Six Flags, Inc. (NYSE: [url="http://finance.yahoo.com/q?s=pks&d=t"]PKS[/url] - [url="http://finance.yahoo.com/q/h?s=pks"]News[/url]) today announced that the company's Board of Directors has unanimously determined to seek proposals from third parties regarding a possible sale of the company. The process initiated by the Board is designed to result in the receipt of full and fair value by all Six Flags stockholders for all of their shares. if
Six Flags intends to pursue a prompt and orderly auction process, and will invite Red Zone LLC, the investment vehicle managed and controlled by Mr. Daniel Snyder, to participate in the process, should Mr. Snyder have a serious interest in pursuing an acquisition of the entire company.

The Board of Directors has also unanimously determined to oppose Red Zone's attempt to gain effective control of the company through its previously announced intention to initiate a consent solicitation and partial tender offer for Six Flags stock, if and when that consent solicitation and offer are commenced. If Red Zone commences a consent solicitation, the Board urges Six Flags stockholders not to sign any consent form they may receive from Red Zone and will request that stockholders revoke any consent they may give.

Michael Gellert, presiding independent director of Six Flags' Board of Directors, stated, "The Board believes that initiating a sale process at this time is the best way to deliver full and fair value to all Six Flags stockholders, particularly in light of the recent strong, broad-based performance of Six Flags' parks and the proposed actions by Red Zone, which is seeking to acquire effective control of the Company without providing value to all stockholders. Whether or not Red Zone participates in our auction process, we certainly hope it will not take any action which would impede our ability to maximize value for all stockholders."

Kieran Burke, chairman and CEO of Six Flags, said, "Our management team continues to implement a comprehensive strategy for improving performance based on investment in new attractions, enhanced guest services, and a well-received marketing campaign. We have seen strong evidence of the soundness of this strategy with sharply improved performance this year, evidenced by our improved revenues and attendance during the second quarter, and year to date park revenues pacing ahead of prior year at virtually all of our parks. We will remain focused on continuing this momentum as we conduct the sale process and head into the last part of our peak summer season."

The Company noted that there can be no assurance that any sale or other transaction will result from this effort or as to the terms thereof.

Six Flags, Inc. is the world's largest regional theme park company.

Additional Information:

Six Flags, Inc. and its directors may be deemed to be participants in the solicitation of consent revocations from stockholders of Six Flags. Information regarding the names of Six Flags' directors and their respective interests in Six Flags by security holdings or otherwise is set forth in Six Flags' proxy statement relating to the 2005 annual meeting of stockholders, which may be obtained free of charge at the SEC's website at [url="http://www.sec.gov/"]www.sec.gov[/url] and Six Flags' website at [url="http://www.sixflags.com/"]www.sixflags.com[/url].

Six Flags, Inc. intends to file a Consent Revocation Statement on Schedule 14A with the SEC. Investors and security holders are advised to read Six Flags' Consent Revocation Statement, when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the Consent Revocation Statement on Schedule 14A (when filed) free of charge at the SEC's website at [url="http://www.sec.gov"]www.sec.gov[/url]. Six Flags, Inc. also will provide a copy of these materials without charge on its website at [url="http://www.sixflags.com"]www.sixflags.com[/url].

In response to any tender offer that may be commenced by Red Zone or any affiliate thereof, Six Flags will file with the SEC its recommendation to stockholders on Schedule 14D-9 regarding the tender offer and any amendments thereto. Investors and security holders are advised to read Six Flags' Solicitation/Recommendation Statement on Schedule 14D-9, if and when it is filed and becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the Solicitation/Recommendation Statement on Schedule 14D-9 (if and when it is filed and becomes available) free of charge at the SEC's website at [url="http://www.sec.gov"]www.sec.gov[/url]. Six Flags, Inc. also will provide a copy of these materials without charge on its website at [url="http://www.sixflags.com"]www.sixflags.com[/url]

WOAH!!!!! I didn't see that coming. I wonder how fast a buyer would come foward and what they would do with the company.

I always said that SF could stand to sell about 8 parks.

I wonder who will step up and buy the company.

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You should have submitted this as a news story.

Incidently, I did submit it about 3 minutes ago so Editors, it's there.

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Pleasantly missing since 2006

Wow. Very interesting news. I wonder if it will get bought and by who. What will they do? What won't they do? So many questions.

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We didn't receive it.

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ThrillNetwork Webmaster/Systems Administrator -- My Official Fansite -- Get Firefox!

Very nice. It said "Thank you for submitting" so I don't know what to tell you. I don't save everything, I just keep the word doc up til it says that, then I close it.

Regardless, here's the AP article for you guys to do something up:
[url]http://news.moneycentral.msn.com/ticker/article.asp?Feed=AP&Date=20050825&ID=5064573&Symbol=US:PKS[/url]

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Pleasantly missing since 2006

Here's a link to the story from Reuters...

[url]http://news.yahoo.com/s/nm/20050825/bs_nm/leisure_sixflags_dc[/url]

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They call me "Mr. R" for a reason!

I don't think there will be a buyer. I think this might have just been a ploy to get stock prices up just so Red Zone & Snyder COULDN'T take over the company. They wanted $6.50 a share and now it's nearly a dollar above that. That's a lot more money in the long run for a failing (well, sorta) company.

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Bigger, Stronger, Fatter.

I don't think it's a ploy, I seriously think they could be selling the company. Atleast we can hope.

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I doubt there will be any buyers. According to the Washington Post, SF has over $2 billion dollars of debt.

[url="http://www.washingtonpost.com/wp-dyn/content/article/2005/08/25/AR2005082500949.html"]http://www.washingtonpost.com/wp-dyn/content/article/2005/08/25/AR2005082500949.html[/url]

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Someone might not buy all the park, CF or Paramount or a private investor could just buy a few parks unless SF won't sell park by park and their trying to sell all at once.

If so i still could see a buyer but the new owners would turn around and sell half the parks or just close them.

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/\ You're mistaken. The individual parks are not for sale. The company itself is. I just don't understand how people can read something that's explained so thoroughly and still misinterpret it.

I know it's the entire company. What i ment was if CF or PP comes up and says they only want certin parks would they sell those parks or say no you have to buy them all.

I ment If they can't sell them all SF could try to sell them by park.

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Selling individual parks one by one is just as hard as it would be to sell the company itself. Cedar Fair had a lot of trouble getting Geauga Lake back on its feet when it bought it from Six Flags, and even lost revenue from that - and Cedar Fair revenue/attendance has been sliding downhill the past few quarters. I don't see how they could acquire another park anytime soon. Disney and Universal are out of the picture, as it is a no-brainer as to why - and Paramount hasn't acquired a park since what was so long ago it could have been the age of the Dinosaurs. The success behind some park companies is that a small number makes good equilibrium in having a park lineup, rather than Six Flags' bomb of a science project involving the rapid acquisition of parks like a fat kid snapping up food items at a buffet counter, leaving them with a $1.5+ billion debt. So I don't see Six Flags Inc. changing their direction from auctioning off the entire company to selling off some parks.

Wow, I saw this coming for a long time now...It's not surprising to me really. About the whole, Cedar Fair not wanting to buy all 30 parks, the only thing I could see possibly happening is Snyder taking over most of the company. I read one of the articles and it said he doesn't want full control and thus being slapped with the debt the company has received over the years from buying all the parks. But if Cedar Fair wanted to buy a couple of the parks from Snyder, I can see that happening. It's only a matter of time before a possible buyer steps forward, unless of course Snyder is the only one actually interested.