"This industry relies too much on big rides. We have to diversify," Shapiro, who was recruited by Snyder to run Six Flags, said in an interview yesterday. "We have to focus on more concerts and more themed attractions."

Everything underneath Shapiro's wing is up for review: Everything including the ad campaign star "Mr. Six," the giant roller coasters Six Flags built its brand on and the parks themselves.

Majority shareholder Daniel Snyder noted in a press release, the "effect that such debt has on any transaction" and said debt reduction would be a priority for the company.

To raise money, the new management is looking at selling some of its land. Last month, Snyder submitted a filing with the Securities and Exchange Commission that identified unused and underused land worth a combined total of at least $262.1 million. Land around the Largo, Md., park valued between $104.5 million to $118 million.

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