NEW YORK, Oct 21 (Reuters) - Activist investor Jana
Partners has teamed up with football star Travis Kelce to push
Six Flags Entertainment ( FUN ) to improve its marketing and
customer experiences, the investor said, after disclosing a 9%
stake in the company.
Jana Partners' Scott Ostfeld announced the position at the 13D
Monitor Active Passive-Investment Summit in New York on Tuesday,
saying he has partnered with Kelce and two business industry
executives to pressure the company to improve its performance.
Shares of Six Flags shot up 17% on Tuesday after Ostfeld
spoke to $25.63.
The stock is down 58% since it completed a merger with
fellow theme park operator Cedar Fair in July 2024.
The stock has a market capitalization of roughly $2.6
billion, and has struggled this year as rainy weather at the
start of the summer kept visitors away from its parks.
Kelce, a star tight end for the NFL's Kansas City Chiefs, is
a popular podcast host who recently became engaged to singer
Taylor Swift. He has described himself as a theme park
"superfan" and has often visited the company's parks.
Jana is joining a field of activists approaching Six Flags
with ideas on how to improve the share price.
On Friday, the company said it added an executive from
activist hedge fund Sachem Head Capital Management to its board.
Consumer executive Glenn Murphy and technology executive
Dave Habiger are also working with Jana and could, along with
Kelce, serve as potential board nominees.