Bally's Great America

General discussion about Marriott's GREAT AMERICA
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redfishpaw
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Post by redfishpaw » Wed Aug 24, 2005 12:09 am

Tanya wrote:FunnelCake,
It's hard to put into words. I think it was more a feeling of loss (like the death of a close friend). Nothing changed immediately. It wasn't like the next day all new managers came in or anything like that. I can't remember enough to tell you what little changes did take effect immediately.
True, many of the managers stayed on. Several people in my department were from Marriott times. I am still in contact my old boss, a former full time management employee who went through the change. I can ask him for some of his insight on this. I am quite sure that he will say that thing were better off during the Marriott years.

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redfishpaw
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Re: Bally's Great America

Post by redfishpaw » Tue Aug 30, 2005 10:47 am

redfishpaw wrote:
dth1971 wrote:The "A Bally Company" sign was added to the bottom when in 1984 Marriott's Great America became Six Flags Great America. Bally later sold the Six Flags theme parks to Time Warner, which much later sold the Six Flags parks to Premier Parks.
Not entirely true. Wesray also was an owner for a several years, between Ballys and Time Warner. When I worked at the park in the late 80s, Wesray owned it (not widely known). In 1987 Wesray Capitol purchased Six Flags from Bally for $610 million (Wesray 80%, Six Flags managers 20%). I do remember when Time Warner moved in. We were excited because we thought that the park would actually have money for new rides. In 1990 Warner owned 20%, in 1991 50%, and in 1993 they owned 100%. Anyway Time Warner was short lived. They sold it to Bosten Ventures a year later. Which in turn sold it to Premier parks (formerly Tierco Group Inc.); a waterpark company, was considered to be in over their head at the time. Once again, money became tight. Premier parks eventually owned Six Flags 100% by 1998 and they by 2000 Premier parks changed their name to Six flags Inc. This is the abbreviated version and if this is still confusing, just look at it the way I do, these parks are simply investments which are bought and sold every few years. Some owners are widely known and some are not.
Funny thing, just two days after I write this, Six Flags annouces that it is for sale. I assume this is already old news for most of you, but are a few articles

CBS NEWS
http://www.cbsnews.com/stories/2005/08/ ... 5517.shtml

CNN MONEY
http://money.cnn.com/2005/08/25/news/midcaps/sixflags/

YAHOO FINANCE
http://biz.yahoo.com/ap/050825/six_flags_sale.html?.v=1

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RandyV
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Post by RandyV » Tue Sep 27, 2005 11:08 pm

Tanya wrote:Jw, your comment "It was kind of a feeling of abandonment" hit home.
Same here. I remember reading about the sale of the park in the paper and I was stunned. I distinctly remember thinking that the "feel" of the park was going to be lost. Within a few years, if I remember correctly, ride theming was on the way down and corporate sponsorship was in it's place.

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Post by Shockwavegirl » Wed Sep 28, 2005 11:19 am

I don't remember it being owned by Boston Ventures. When I worked there in '96 & '97 is was still owned by Time Warner as far as I was told, and the next year is when I heard about it being sold to Premier Parks. Anyway, so that doesn't make sense to me...did they still say they were owned by Time Warner, or did Time Warner sell it to Boston Ventures and then buy it back? Or did they still own the controlling interest in the parks?


Too many times has this company changed hands that I don't know what end is up for Six Flags.

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Post by redfishpaw » Wed Sep 28, 2005 12:00 pm

Shockwavegirl wrote:I don't remember it being owned by Boston Ventures. When I worked there in '96 & '97 is was still owned by Time Warner as far as I was told, and the next year is when I heard about it being sold to Premier Parks. Anyway, so that doesn't make sense to me...did they still say they were owned by Time Warner, or did Time Warner sell it to Boston Ventures and then buy it back? Or did they still own the controlling interest in the parks?


Too many times has this company changed hands that I don't know what end is up for Six Flags.
in 1995 Time Warner sold 51% of Six Flags to Boston Ventures. Time Warners control was short lived. Boston Ventures had contolling interest when you worked there, just as Wesray was the owner for many years when I worked their in the 80's (also was not widely known). Warner was out completely by April of 1998. Ownership changes hand every few years. This is a trend which I would expect to continue on into the future.

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Post by Shockwavegirl » Wed Sep 28, 2005 5:37 pm

All I know is that my paychecks had written on it for the letterhead...."Six Flags Great America"....and underneath in smaller letters "a Time Warner Company"

And they still own a small interest yet, my husband works for Time Warner Cable, and he, owning some company stock, gets a portfolio of all the companies AOL/Time Warner has it's fingers in. And Six Flags is still listed as a stock the company has interest in.

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Post by redfishpaw » Thu Sep 29, 2005 6:05 am

I'm not making up any timeline here. This info is all available online. Time Warner only had 100% in 93 and 94. Then they sold 51% in early 95. (I even remember this happening, as I was disappointed at the time) With partial interests they used the Time Warner for a few more years. It is also known that Time Warner got out completely in 1998. Whatever interest they may have left now must be marginal. Last month we all heard the Six Flags is for sale again, we'll see what happens next.

Here is an interesting article regarding Redskins owner Daniel M. Snyder bid to control Six Flags
http://www.washingtonpost.com/wp-dyn/co ... 30_pf.html

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Post by Shockwavegirl » Sun Oct 02, 2005 9:53 pm

I knew they were out in '98, because '97 was the last year I worked there, so I needed a season pass again in '98, and at the bottom of the Six Flags logo the words "a Time Warner company" was blacked out, and I ran into an old friend who still worked there on one of my visits who told me it was purchased by Premeir Parks...something that was being discussed when I still worked there in '97....not that Preimer Parks was buying it, but that Time Warners controlling shares were up for auction.

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