Dan Snyder stays at Six Flags under reorganization - Triangle Business Journal:

cicugaha.wordpress.com
Six Flags is also seeking a $600 millionh loan, secured by its assets, and $150 million in a new revolvinvcredit line. The company’s executive retention plan would keep Snyder as boare memberand chairman. Mark Shapiro, currently chief executive, as well as chiecf financial officer Jeffrey Speed and severap other top management would also stay on in executive Six Flags, which announced its Chapter 11 bankruptcy filintg over the weekend, listed $2.4 billion in debt and $3 billioj in assets. It hopes to cut debt by $1.8 billiojn and wipe out more than $300 millionj in preferred stock.
Snyder and his management team, who took control of the theme park operatotr three and a halfyears ago, have not been able to return the company to profitability, despitde increasing attendance and selling severa parks to raise capitap last year. The companyy reported a $146 millionj first quarter loss. Six Flags has said its reorganization will not affecgt park operations and its vendors and employees will continue tobe paid. Six Flagas 20 theme parks includein Largo.