Premier Parks changes to Six Flags Inc.

Fun and names

July 06, 2000|By BLOOMBERG NEWS

OKLAHOMA CITY - Premier Parks Inc., the world's largest regional theme-park company, said yesterday that it changed its name to Six Flags Inc., hoping the company's most popular brand will add to revenue and create more marketing partnerships.

The Six Flags chain was purchased from a Time Warner Inc.-led group in 1998. The amusement-park company had 1999 sales of $927 million and had about 50 million people worldwide visit its properties. It has 37 parks in the United States, Europe and Latin America, including sites in 17 of the 25 largest U.S. metropolitan areas. In the Baltimore-Washington region, it operates Six Flags America in Largo.

Shareholders approved the name change last month. The Oklahoma City-based company will continue to trade on the New York Stock Exchange under the symbol PKS. The shares rose $1.25 to $24 yesterday.

Last month, the company signed Eastman Kodak Co. to a five-year sponsorship agreement that gives Kodak exclusive rights to sell cameras and film in 25 U.S. parks. Six Flags also formed an alliance with America Online Inc. under which AOL will be promoted in Six Flags park guidebooks and other advertising, in exchange for ticket giveaways and discounts for AOL members.

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