JANA PARTNERS, TRAVIS KELCE, AND LEADING EXECUTIVES INVEST IN SIX FLAGS ENTERTAINMENT

Rhea-AI Summary

JANA Partners, Travis Kelce, Glenn Murphy, and Dave Habiger disclosed a collective investment in Six Flags Entertainment (NYSE: FUN) on October 21, 2025.

The group owns an economic interest of approximately 9% and JANA said it plans to engage with Six Flags' board and management to explore opportunities to enhance shareholder value and improve the guest experience. JANA Managing Partner Scott Ostfeld disclosed the investment at the 13D Monitor Active-Passive Investor Summit.

Positive

• Economic interest ≈9% held by the investor group
• JANA plans engagement with Six Flags board and management
• Disclosure made on Oct 21, 2025 at 13D Monitor Summit

Negative

• None.

Becomes One of the Largest Six Flags Shareholders

Believes Six Flags Offers Opportunity for Significant Shareholder Value Creation

NEW YORK, Oct. 21, 2025 /PRNewswire/ -- JANA Partners ("JANA") today announced that it has partnered with Super Bowl Champion Travis Kelce as well as consumer executive Glenn Murphy and technology executive Dave Habiger, (the "Group") in an investment in Six Flags Entertainment Corporation (NYSE: FUN) ("Six Flags" or the "Company"). The Group collectively owns an economic interest of approximately 9%.

JANA plans to engage with the Company's Board of Directors and management regarding opportunities to enhance shareholder value and improve the guest experience. JANA Managing Partner Scott Ostfeld disclosed the investment at the 13D Monitor Active-Passive Investor Summit.

"I am a lifelong Six Flags fan and grew up going to these parks with my family and friends," said Travis Kelce. "The chance to help make Six Flags special for the next generation is one I couldn't pass up."

"We look forward to working with the Six Flags board and management to unlock shareholder value for the benefit of all stakeholders," added Scott Ostfeld.

About Glenn Murphy

Glenn Murphy is an accomplished consumer executive who brings a 30-year track record of strategic and operational leadership across multiple major global brands. He is the founder and Chief Executive Officer of FIS-Holdings Ltd., a high‐impact consumer‐focused investment firm. Prior to FIS Holdings, Mr. Murphy served as Chairman and Chief Executive Officer of Gap, Inc. from 2007 until 2014. Prior to that, he served as the Chairman and Chief Executive Officer of Shoppers Drug Mart Corporation from 2001 to 2007. Mr. Murphy currently serves as Executive Chair of the board of Petco Health and Wellness Company, as well as Executive Chair of Wella Beauty. He previously served as Executive Chairman and then Chairman of the board of directors of Lululemon Athletica, Inc. from April 2017 to August 2023.

About Dave Habiger

Dave Habiger is an accomplished technology and media executive who brings decades of leadership experience across multiple global companies. He currently serves as Vice Chairman of J.D. Power, where he previously served as President and Chief Executive Officer from 2018 to 2025. Over his career, Mr. Habiger has led several public technology businesses through significant growth and strategic transactions, including serving as Chief Executive Officer of Textura Corporation through its sale to Oracle in 2016, Chief Executive Officer of NDS Group through its sale to Cisco Systems in 2012, and President and Chief Executive Officer of Sonic Solutions through its sale to Rovi Corporation. Mr. Habiger serves on multiple public and private company boards including as Chairperson of Reddit, and as a director for Boston Scientific and the Chicago Federal Reserve Board.

About JANA Partners

JANA Partners was founded in 2001 by Barry Rosenstein. JANA invests in undervalued public companies and engages with management teams and boards to unlock value for shareholders.

Disclaimer

This press release and the opinions herein are for general information only, and are not intended to be, nor should they be construed as, an offer to sell or a solicitation of an offer to buy any security, a recommendation to purchase or sell any security, or legal, financial, tax, investment, or other advice. Funds managed by JANA currently beneficially own and have other economic interests in shares of the Company. Travis Kelce has a financial interest in certain of the Company's securities, including, but not limited to, investments relating to the Company in such funds managed by JANA. These funds are in the business of trading (i.e., buying and selling) securities and intend to continue trading in the securities of the Company. You should assume such funds, as well as other funds in which Travis Kelce has a financial interest, may from time to time sell all or a portion of their respective holdings of the Company in open market transactions or otherwise, buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls, swaps or other derivative instruments relating to such shares, subject to applicable law. Consequently, JANA's or Travis Kelce's beneficial ownership of shares of, and/or economic interest in, the Company may vary over time depending on various factors, with or without regard to their respective views of the Company's business, prospects, or valuation (including the market price of the Company's shares), including without limitation, other investment opportunities available to them, concentration of positions in the portfolios managed by them, conditions in the securities markets and general economic and industry conditions. JANA and Travis Kelce each reserve the right to change any of their respective opinions expressed herein at any time as they deem appropriate and disclaim any obligation to notify the market or any other party of any such change, except as required by law.

Press Contacts

Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
JANA@Gasthalter.com
(212) 257-4170

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SOURCE JANA Partners

FAQ

Who invested in Six Flags (FUN) on October 21, 2025?

An investor group led by JANA Partners alongside Travis Kelce, Glenn Murphy, and Dave Habiger disclosed the investment.

How much of Six Flags (FUN) does the JANA-led group own?

The group collectively owns an economic interest of approximately 9% in Six Flags.

What did JANA say it will do after buying ~9% of Six Flags (FUN)?

JANA said it plans to engage with the company's board and management to seek opportunities to enhance shareholder value and improve the guest experience.

When and where was the Six Flags (FUN) investment disclosed?

The investment was disclosed on October 21, 2025 at the 13D Monitor Active-Passive Investor Summit.

Does the announcement state any agreed board changes or transactions for Six Flags (FUN)?

No; the announcement says JANA plans to engage with the board and management but does not disclose any agreed board changes or transactions.