The Six Flag Takeover

1962 Words8 Pages
After devastating stock losses and company quarrels, Daniel Snyder, owner of the Washington Redskins, took control of the Six Flags Corporation. The company now is recuperating from its poor management and financial blunders. Snyder’s plan of action will undoubtedly bring the company up from its gallows of depression. A takeover of Six Flags was a necessity for the revitalization of the company’s name. The company was on the verge of internal obliteration, and was financially incapable of supporting itself. Daniel Snyder stepped in to take over the company when it was at its weakest position, and has started to recreate the original amusement industry’s giant. Six Flags had been struggling for almost a decade when Daniel Snyder announced he was going to attempt to takeover Six Flags with his company, Red Zone. Kieran Burke, the former CEO of Six Flags, voted to put the company up for auction in August of 2005. Burke basically figured that if the company was to be bought by an outside firm, he would still be in control. Daniel Snyder saw this as a pivotal point to make his move, and announced that he would attempt to takeover the management Six Flags. The board of the directors for the company voted, and control of the company was given to Daniel Snyder. Snyder did not waste time, and almost instantaneously as he was voted into control, removed Kieran Burke, and replaced him with Mark Shapiro, the former programming director from ESPN. Shapiro would be the man who would implement the plan to revitalize the life of Six Flags. The question, “What was wrong with Six Flags?” should be rephrased into the form of “What was right with Six Flags?” Poor management under the former CEO of the company, Kieran Burke, ultimately killed the company. The hypothetical “target” audience for Six Flags was not being “targeted effectively.” According to Snyder, Six

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