Jana Partners Urges Six Flags to Explore Sale After Q2 Loss Widens

Activist hedge fund Jana Partners pressed Six Flags Entertainment (SIX) to hire an investment bank and explore a sale, citing disappointment with the theme park operator's second-quarter results, The Wall Street Journal reported on Wednesday, September 23, 2026. Six Flags' net loss widened to $202.6 million from $99.6 million a year earlier, according to its most recent quarterly report. Market capitalization stood at roughly $1.2 billion, with shares down about 42% over the prior 12 months. The company has moved to restructure amid declining park attendance, divesting seven noncore parks to EPR Properties and closing a Maryland location after the 2025 season. Jana, founded by Barry Rosenstein, built a roughly 9% stake, worth about $200 million, with co-investors last autumn. The fund previously pushed for marketing and technology upgrades, leadership changes and a potential sale. Jana has also campaigned at Cooper Companies and Fiserv this year.