Six Flags CEO Says Holders Will Wait for Bids
Six Flags chief executive Kieran E. Burke said he has been assured by some of the company's "very significant long-standing shareholders" that they will wait for the board to complete its search for a buyer for Six Flags before deciding whether to turn the company over to a dissident group led by Redskins owner Daniel Snyder. During a conference call with investors, Burke said he remained confident that the board, which put the company up for sale in August, would receive "final bids" by early December and would have an offer to present to shareholders at the end of the month. Burke did not disclose the number of bidders or the range of prices being offered.
Snyder, who owns 11.7 percent of Six Flags, is the company's largest shareholder. He has proposed ousting Six Flags' management and installing himself, former ESPN programming executive Mark Shapiro and home builder Dwight C. Schar into leadership positions.
XM Signs Yankees' Jeter for Endorsements
XM Satellite Radio Holdings, the biggest U.S. pay-radio service, signed New York Yankees shortstop and captain Derek Jeter to an endorsement contract. The deal includes a partnership with the Turn 2 Foundation, a nonprofit organization founded by Jeter. He will appear on XM's Major League Baseball channel and participate in retail promotions, the District-based company said. Financial terms weren't disclosed.
Station Square Office Complex Sold
The D.C. office of Hines, a developer based in Houston, said it and one of its investment partners, California Public Employees' Retirement System, bought the Station Square office complex in Silver Spring from Moore & Associates. The terms were not disclosed.
Maximus, a Reston-based consultant and program manager for government agencies, posted fourth-quarter profit of $7.4 million (34 cents a share), down from $10.2 million (47 cents) in the corresponding quarter last year. The latest quarter included a charge of $5.5 million related to a litigation settlement. Revenue was $167.3 million, up 9 percent. For the year that ended in September, profit decreased to $36.1 million ($1.67) from $38.8 million ($1.76) the previous year. Revenue rose 7 percent, to $647.5 million.
Compiled from staff and news service reports.