Six Flags has no plans to sell Knott\u2019s Berry Farm or Six Flags Magic Mountain as the struggling company considers selling underperforming amusement parks amid a plummeting stock price and declining revenues.<\/p>\n
Knott\u2019s Berry Farm and Six Flags Magic Mountain are critical to the long-term growth of the amusement park chain, Six Flags CFO Brian Witherow said during an earnings call earlier this month.<\/p>\n
Sign up for our Park Life newsletter<\/a> and find out what\u2019s new and interesting every week at Southern California\u2019s theme parks. Subscribe here<\/a>.<\/p>\n ALSO SEE: Six Flags Magic Mountain\u2019s new roller coaster begins arriving at the park<\/a><\/p>\n Six Flags parks with high property values in Southern California and Toronto \u201care critical to the long-term growth of the business,\u201d Witherow said on the call.<\/p>\n The sale of Knott\u2019s Berry Farm in Buena Park, Six Flags Magic Mountain in Valencia or Canada\u2019s Wonderland outside Toronto \u201cwould not be something, at least where we sit today, that we would be interested in pursuing,\u201d Witherow said on the call.<\/p>\n ALSO SEE: Kelce brothers pitch an absolutely crazy roller coaster for Six Flags<\/a><\/p>\n Six Flags plans to sell underperforming \u201cnon-core\u201d parks<\/a> to raise money to pay down nearly $5 billion in debt after reporting a significant loss in the most recent quarterly earnings report earlier this month.<\/p>\n The company plans to sell the Six Flags America property<\/a> in Maryland that permanently closed earlier this month.<\/p>\n California\u2019s Great America in Santa Clara will close in the next few years<\/a> \u2014 with the exact closing date yet to be set.<\/p>\n ALSO SEE: Six Flags Magic Mountain teases 7 possible new attractions<\/a><\/p>\n Six Flags and rival Cedar Fair merged in 2024<\/a> in an $8 billion deal that combined the two companies into a North American amusement park juggernaut.<\/p>\n The Six Flags stock price hit a 52-week low after the company reported a 2% decline in net revenue during third quarter results<\/a> in early November.<\/p>\n ALSO SEE: Knott\u2019s Berry Farm continues attendance hot streak<\/a><\/p>\n Theme park veteran John Reilly will take over as Six Flags Chief Executive Officer<\/a> on Dec. 8.<\/p>\n Reilly\u2019s career has included stops as Palace Entertainment CEO, SeaWorld Parks and Entertainment interim CEO and SeaWorld San Diego president.<\/p>\n Related Articles \t\t\tSix Flags Magic Mountain adds 2 new shows during Holiday in the Park\t\t<\/p>\n \t\t\t<\/a><\/p>\n \t\t\t<\/p>\n \t\t\tSix Flags Magic Mountain\u2019s new roller coaster begins arriving at the park\t\t<\/p>\n \t\t\t<\/a><\/p>\n \t\t\t<\/p>\n \t\t\tCedar Point teases 5 possible new attractions\t\t<\/p>\n \t\t\t<\/a><\/p>\n
\n\t\t\t<\/p>\n