angey77
DIS Veteran
- Joined
- Jan 10, 2001
- Messages
- 2,420
I've posted this in another thread, but I'm sure more people will see this if it's a starting thread.
Here's a story from ocregister.com involving Disney and Six Flags.
You need a free subscription to view it at http://www2.ocregister.com/ocrweb/ocr/article.do?id=51275 but I will just post the story here. THIS WOULD BE AWESOME! But I have to wonder how likely this is.
Rumors of takeover by Disney Co. hoist Six Flags stock 7%
Shares of Six Flags rose 7 percent Wednesday after speculation that Walt Disney Co. had an interest in acquiring the theme-park competitor.
John Spelich, a spokesman for the company, said Disney "never comments on rumors of this type.''
But such an acquisition would be an odd mix since Disney operates destination resorts and Six Flags runs smaller, regional theme parks. It would also run contrary to Disney's current strategy of reducing investments and capital spending.
President Bob Iger said last month that capital spending has fallen 50 percent since major investments were made in 2001, including opening Disney's California Adventure. Plans for annual capital spending beyond 2003 are "meaningfully below $1 billion per year," he said.
Six Flags already has warned of a possible "material" shortfall in 2003 revenue and earnings. Shares rose to $5.13 Wednesday before closing at $4.72, up 32 cents. Disney shares finished down 14 cents at $21.41.
Here's a story from ocregister.com involving Disney and Six Flags.
You need a free subscription to view it at http://www2.ocregister.com/ocrweb/ocr/article.do?id=51275 but I will just post the story here. THIS WOULD BE AWESOME! But I have to wonder how likely this is.
Rumors of takeover by Disney Co. hoist Six Flags stock 7%
Shares of Six Flags rose 7 percent Wednesday after speculation that Walt Disney Co. had an interest in acquiring the theme-park competitor.
John Spelich, a spokesman for the company, said Disney "never comments on rumors of this type.''
But such an acquisition would be an odd mix since Disney operates destination resorts and Six Flags runs smaller, regional theme parks. It would also run contrary to Disney's current strategy of reducing investments and capital spending.
President Bob Iger said last month that capital spending has fallen 50 percent since major investments were made in 2001, including opening Disney's California Adventure. Plans for annual capital spending beyond 2003 are "meaningfully below $1 billion per year," he said.
Six Flags already has warned of a possible "material" shortfall in 2003 revenue and earnings. Shares rose to $5.13 Wednesday before closing at $4.72, up 32 cents. Disney shares finished down 14 cents at $21.41.
