Keeping Bugs Bunny In The Family

Tue., April 18, 1995

Associated Press

Time Warner Inc. agreed to sell control of the Six Flags theme park business in a $1 billion deal that takes a big bite out of its debt while preserving a home in the parks for Bugs Bunny and Batman.

The world’s biggest media-entertainment company said Monday it will sell 51 percent of Six Flags to a Bostonbased investment group which will pay $200 million for an operation that will carry $800 million in debt.

Time Warner, which retains a 49 percent stake, will serve as co-manager of the 10 Six Flags theme parks and will continue to showcase its characters like Bugs Bunny and Batman in the parks.

“We will retain all the strategic benefits of having Six Flags as an integral part of the Time Warner family,” Board Chairman Gerald Levin said.

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Keeping Bugs Bunny In The Family

Jesse Tinsley

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