Six Flag Inc. shareholder Red Zone LLC has distributed its 10.9
million shares in the amusement park operator to the firm's individual
members, according to an
SEC
filing. Dealbook
suggests
the move portends Red Zone's turnaround for the troubled company is over, and
considering Six Flag shares are trading near a 52-week low, it was a failure.
Red Zone, the investment vehicle of Redskins owner Dan Snyder, accrued an 11%
stake in Six Flags two years ago promising to turn it around. Interestingly,
like Snyder's Redskins, it would seem Red Zone makes a lot of promises, but
ultimately fails to execute in the end. — Matthew Wurtzel
See
filing from Red Zone via the SEC
See
story from Dealbook
See
September 2004 story from TheDeal.com
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