Activist investment firm Jana Partners has teamed up with NFL star Travis Kelce and other investors to acquire a 9 percent stake in Six Flags Entertainment Corporation.
The group, which is headed by Jana's managing partner Scott Ostfeld, plans to engage with the Six Flags board of directors and management team in a bid to improve the struggling theme park operator's business.
Other investors in the group are consumer executive Glenn Murphy and technology executive Dave Habiger.
Per a press release, Jana Partners aims to "enhance shareholder value and improve the guest experience" at Six Flags and legacy Cedar Fair parks.
The Six Flags stock price has declined by 55 percent in 2025, and by 58 percent since its merger with Cedar Fair in July 2024.
Kelce, who is engaged to Taylor Swift, said in a statement: "I am a lifelong Six Flags fan and grew up going to these parks with my family and friends.
“The chance to help make Six Flags special for the next generation is one I couldn’t pass up.”
Jana acquires 9% stake in Six Flags
Jana intends to press the Six Flags board and management team on several initiatives, including:
- Revitalising the company's branding and marketing strategy, and consumer experience
- Improving theme park operations and accelerating the introduction of new technologies
- Assessing leadership and governance, and evaluating potential acquisition opportunities
Ostfeld said: "We look forward to working with the Six Flags board and management to unlock shareholder value for the benefit of all stakeholders."
Six Flags, the largest regional amusement park operator in North America, recently reported an increase in attendance over the summer following weather-related difficulties earlier this year.
Six Flags' president and CEO Richard Zimmerman, who is stepping down by the end of 2025, said the company was "encouraged by the strong rebound in attendance and heightened demand for our parks".
Images courtesy of Six Flags and Jana Partners
