Activist investor Jana Partners has revealed a 9% stake in Six Flags Entertainment (FUN.N) and is joining forces with NFL star Travis Kelce to push for a major turnaround in marketing, brand engagement, and customer experience across the iconic theme park chain.
💼 The Activist Push
At the 13D Monitor Active Passive-Investment Summit in New York, Jana’s Scott Ostfeld announced the new campaign — joined by Kelce and two seasoned executives from the consumer and technology sectors. Their goal: to restore growth and improve profitability after Six Flags’ 58% stock decline since its merger with Cedar Fair in 2024.
Jana believes Six Flags is underperforming its potential due to weak branding and declining visitor engagement — issues that could be reversed through re-energized marketing and operational strategy.
🏈 Celebrity Influence Meets Corporate Strategy
Travis Kelce, the Kansas City Chiefs’ tight end and global celebrity (recently engaged to Taylor Swift), brings a powerful consumer branding dimension to the effort. As a self-proclaimed “theme park superfan,” Kelce’s involvement aims to connect the Six Flags brand to younger and family audiences through modern media and influencer-driven campaigns.
Kelce could potentially serve on the board alongside Glenn Murphy (former CEO of Gap and chairman of Lululemon) and Dave Habiger (CEO of J.D. Power), who are also aligned with Jana’s strategy.
📈 Market Reaction
Six Flags’ stock surged 17% to $25.63 following the announcement — a clear signal that investors welcomed the activist intervention and the Kelce-led visibility boost. The company currently has a market cap of $2.6 billion and continues to recover from weak summer attendance due to adverse weather and post-merger integration challenges.
🧭 A History of High-Impact Activism
Jana Partners has a strong track record of driving shareholder value, with notable past campaigns at Whole Foods (sold to Amazon), Tiffany & Co., and FreshPet.
The firm’s consumer-focused expertise could position Six Flags for a similar brand reinvention — especially as competition in the global leisure and entertainment market intensifies.