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Snyder Sees Six Flags Flying as an Empire Similar to Disney
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"Mark Shapiro is one of the brightest, most energetic, creative businesspeople I've ever met," Snyder said in an interview. "And the most important characteristic, he is a fantastic leader. And given the opportunity, he would be the perfect chief executive officer for a family entertainment company."
In Shapiro, Snyder is offering Six Flags shareholders a hard-charging manager who is not unlike himself.
Both men achieved success before reaching their 40th birthdays. Snyder was a college dropout who by his mid-30s was running a company with $1 billion in revenue; Shapiro by age 31 had risen from production assistant to the top programming executive at ESPN, having helped create several hit shows. (One of them is "Pardon the Interruption," hosted by Washington Post columnists Tony Kornheiser and Michael Wilbon.)
The two have been friends since meeting about five years ago at NFL broadcasting meetings, said a source with knowledge of the relationship. Their families have vacationed together in Europe and at Snyder's house in Aspen, said the source. Recently, they have been spending more time together to make sure they are the "right fit" as business partners.
Shapiro drew parallels between what he and Snyder have in mind with "what Disney has done and become" but added that they are realistic and are not "looking to become a Walt Disney overnight."
Analysts agreed, saying Snyder and Shapiro would face serious challenges in transforming Six Flags, a chain of regional theme parks, into the destination resorts that Disney has created.
Six Flags does have licensing rights to Warner Brothers characters such as Bugs Bunny, but it is unclear whether any of its properties would be popular enough to support hotels and other amenities. Schar has been brought in at least in part for his real estate savvy, Snyder told the cable channel CNBC.
Shapiro said that if shareholder's approve Snyder's proposals, he would visit 30 parks in 30 days.
"The first order of business is to address attendance, advertising, strategic alliances, to address customer service and brand-building. That's what this is about," Shapiro said. "How do you cater to people . . . and make it a great experience?"
