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Six Flags Theme Parks, Inc. (SFTP), originally Six Flags Corporation, is a regional theme park company that was founded by Angus G. Wynne, Jr. in 1961, upon the opening of Six Flags Over Texas. Six Flags Theme Parks is a fully-owned subsidiary of Six Flags Entertainment Corporation (formerly Premier Parks), who purchased the company from Time Warner in 1998.
History[]
In 1982, the corporate headquarters of the Six Flags Corporation moved from Chicago to Arlington, Texas. However, later on (Pre-1998), they moved headquarters to Parsippany, New Jersey.
In October 1985, Dan Howells resigned as president of Six Flags Corp., leaving the company to join its parent, Bally Manufacturing, as executive vice president of its food service management division. Larry Cochran, executive vice president of Six Flags Corp., was given the interim title of president immediately following Howell's departure.[1]
On April 1, 1998, it was announced that Time Warner had sold Six Flags Theme Parks to Premier Parks for $1.86 billion.
On April 22, 2020, Six Flags Entertainment Corporation announced amidst the ongoing COVID-19 pandemic that its subsidiary Six Flags Theme Parks had "closed its private offering of $725 million aggregate principal amount of senior secured notes". The net proceeds from the offering would be used "to repay indebtedness and the remaining amount for general corporate matters and working capital purposes, including expenses relating to the transaction". The second amendment to SFTP's credit facility, which became effective the day of the announcement, "permitted the issuance of the senior secured notes including specifically, permitting the senior secured notes to mature earlier than SFTP's term loan facility", "suspended the senior secured leverage ratio financial maintenance covenant in the credit facility through the end of 2020", and "re-established the financial maintenance covenant thereafter and added a minimum liquidity covenant that will apply from the date of the amendment through December 31, 2021."[2]
Executive management[]
Presidents[]
- Luther D. Clark (1960s–1970)
- Ned DeWitt (1973–1982)
- Dan Howells (1982–1985)
- Larry Cochran (1985–1991)
Chief Executive Officers[]
- Dan Howells (1982–?)
- Larry Cochran (1987–1991)
- Bob Pittman (1991–1995)
- Larry D. Bouts (1995–1998)
Chairmen of the Board[]
- Victor Palmieri (1959–1977)
- Michael E. Gellert (1989–1994)
- Bob Pittman (1991–1995)
- Larry D. Bouts (1995–1998)
References[]
- ↑ Minerals Firm Taps Ex-Heller President Toll. Chicago Tribune (October 17, 1985).
- ↑ Six Flags Entertainment Corporation (April 22, 2020). Closing of $725 Million Senior Secured Notes Offering and Amendment to Credit Facility by Six Flags (Press release). Six Flags. Archived from the original on April 22, 2020.