PKS Six Flags

CONCORD, Mass., Nov. 9 /PRNewswire/ -- Tigris Management, LLC, an investment management firm located in Concord, MA, announces that it will vote the shares of Six Flags, Inc. (NYSE:PKS) it controls directly or through its partners in favor of Red Zone's consent solicitation. This solicitation seeks to appoint Daniel Snyder, Mark Shapiro and Dwight Schar as directors of Six Flags. Tigris believes that the Red Zone team has a successful track record that can unlock the potential value in Six Flags. Based on current park attendance figures, Tigris Management believes that Six Flags shares can trade at $17.50 if the company is managed as effectively as comparable theme park operator Cedar Fair, L.P. Moreover, Tigris believes, based on Red Zone's history of value creation, values in excess of $33 per share can be achieved. Not voting for Red Zone means voting to retain the current management team of Six Flags. This is the same team that posted six straight years of operating losses, culminating with an equity-linked share offering that effectively diluted shareholders by a third; current management has been unable to stem the 90% decline in Six Flags' shares, to $3.49, until Daniel Snyder started buying the shares last year. Current management of Six Flags has proposed that it be allowed to seek a buyer for the company. Management is now asking shareholders to wait until the bids for the company arrive, before voting for Red Zone. This shows little appreciation of the market at hand. In the current market environment, underperforming companies that have changed managements (Interstate Bakeries, TXU Corp, Pathmark, Office Depot, Hewlett-Packard, etc.) have seen their stocks rally significantly. While this trend is likely to continue, it will not be here forever. There are real costs associated with waiting for a bid. Now is not the time to sell Six Flags or to allow the management to continue leading the company. It is the time to vote for the Red Zone team to unlock the values inherent in Six Flags. DATASOURCE: Tigris Management, LLC CONTACT: Murat Azizoglu, Managing Partner of Tigris Management, LLC, +1-978-318-7078

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