News: Six Flags likely to trim property holdings By Sir Willow

Feb. 15th, 2006 -- On Tuesday while Six Flags CEO Mark Shapiro announced the world's tallest and fastest flying coaster, he also indicated that the company would be selling some of its real estate holdings. Calling the amount held "excessive", the plans are based on the results of a report it recently commissioned from consulting firm Staubach Co. "We're going to evaluate each case," said Shapiro about deciding whether to sell land at some of Six Flags' 30 parks. "It's a tough question." In a recent Securities and Exchange Commission filing, Six Flags indicated that it owns the land where 17 of its parks sit, totaling more than 6,000 acres. While Shapiro said that they would give first consideration to selling off excess land as opposed to closing entire parks, he did not rule out closing or selling off entire parks. "I think anytime you acquire or inherit 30 of anything," he said, "there's a couple that for whatever reason aren't best to keep going the way they are." For more info, read the Chicago Tribune or the LA Times.

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