Time Warner Buys Six Flags Stake: Six...
From Times Staff and Wire Reports
Time Warner Buys Six Flags Stake: Six Flags Corp. of Arlington, Tex., has agreed to sell 19.5% of the company to Time Warner Inc. for $19.5 million. Time Warner also has the option to increase its stake in the company to 50% for an additional price of up to $30.5 million. Six Flags, with 17 million visitors and $400 million in revenue annually, holds licensing rights to certain Warner Bros. cartoon characters. Under the agreement, Six Flags will expand its use of Warner cartoons and Time Warner will assist in merchandising the parks.
