Monday, August 22, 2005

More Amusement from Snyder

We already got plenty of amusement from Dan Snyder's other major public enterprise, the Redskins. But it's good to know he's expanding his amusement park interests...

The brash young owner of the most valuable team in pro football is teaming up with the brash young programming chief of the most dominant network in sports television.

Their goal: creating a new entertainment power, with theme-park company
Six Flags Inc. as its first target.

Daniel Snyder, the 40-year-old principal owner of the National Football League's Washington Redskins, yesterday initiated a shareholder proxy contest to gain control of Oklahoma City-based Six Flags.

He has hired Mark Shapiro, 35, the executive vice president of programming and production at Walt Disney Co.'s ESPN, as chief executive of a private investment company, Red Zone LLC, that will pursue Six Flags and other entertainment properties.

Mr. Snyder is seeking to control three of seven seats on the board of Six Flags, oust the company's top management and increase his ownership stake to 34.9% from its current 11.7%.
If he follows his earlier business model with the Redskins, customers can expect disgruntled employees, higher costs for tickets and parking, merchandising of everything associated with the place ("these toilet seats brought to you by Hellman's Mayonnaise!") and Steve Spurrier running the cotton candy machine. Then again, as loyal reader NC noted, maybe Snyder just wants to sign the dancing old guy from the Six Flags commercials to play quarterback. No, we don't mean Mark Brunell -- he's already with the team.

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