Santa Clarita officials say closing park would have huge effect.

Larry Mankin, president and CEO of the Santa Clarita Valley Chamber of Commerce, was still in shock last week that Six Flags was considering selling Magic Mountain and Hurricane Harbor in Valencia.

For the past 30 years, the 250-acre park has been a cash cow for the Santa Clarita Valley. Losing it, and the thousands of jobs and throngs of thrill-seekers it brings in, would not be good for the area, Mankin said.

"It is one of the largest employers in the community," he said. "It will touch a lot of people in a very negative way."

The 35-year-old Valencia theme park is one of six sites that New York-based Six Flags Inc. is considering shopping to interested buyers leaving open the possibility the park could be dismantled and revert to residential uses.

The offering is part of a move by Six Flags to rebrand itself as a family-focused chain.

In an investor call, Six Flags CEO Mark Shapiro said that Magic Mountain's current makeup of 17 roller coasters--including the 170-foot Tatsu that opened in May--and a clientele of mostly coaster enthusiasts does not fit with the company's new mission.

"(Magic Mountain) has been successful because it has been marketed as a thrill park," he said, adding that attendance has been solid this year. Still, Six Flags, at $2 billion in the red, could possibly benefit more from divesting the property while focusing on the core performers, he said.

Wendy Goldberg, a Six Flags spokeswoman, said the company does not disclose the value of its holdings, but Shapiro acknowledged that the land could bring in significant offers.

"There's a perception they sit on valuable land," he said.

Goldberg said the company hasn't made a decision about closing and there is no timeline.

That indecision, however, hasn't helped stem concerns--especially among those who count on the park as a source of income.

"It would be a huge loss for this valley if Six Flags were to leave," said Gail Ortiz, a spokeswoman for the city of Santa Clarita.

Gas stations, tourist shops, hotels and restaurants would be dealt a blow, she said.

The countless suppliers that help keep the park running would also lose a significant client, Mankin added.

"It takes a lot of towels and uniforms and

cooking equipment," he said.

County taxes would also be affected and Six Flags is a major customer of utilities, Ortiz said. All of that would be lost if the property goes residential, she said.

Plus, there is a question as to whether the area needs more residential housing, Mankin said, He cited estimates that show more than 60,000 units are already in the pipeline.

"When you look at the current state of affairs, you got to wonder at the wisdom of a business plan like that," he said.

Ironically, the Magic Mountain site was originally envisioned as a residential development by its original owner, the Newhall Land and Farming Co.

In a bid to attract residents, the company in the 1960s decided to partner with Sea World Inc. to create a theme park on the property.

The company sold the park in 1979 to Six Flags, a chain founded by a Texas oil barren, Angus Wynne.

In the 1960s, Wynne created his first park, Six Flags Over Texas, outside Dallas as a regional attraction stocked with family-friendly fare and wholesome entertainment.

It was an immediate success and Wayne used the formula again and again as he purchased new parks.

Over time, the company amassed 30 parks across North America and shifted to thrill rides and roller coasters.

That blueprint proved initially successful. But Shapiro said that Six Flags has hurt the brand image in recent years by focusing on increasingly flashy rides. The company is $2.1 billion in debt; attendance is down 1.3 million visitors companywide this year.

"What we couldn't realize is just how many families have literally given up on Six Flags," he said.

To stem the losses, Six Flags has been evaluating non-core assets, eliminating parks in Texas, Sacramento and Oklahoma City while selling portions of properties in Illinois and Missouri.

The latest move has the company also possibly shopping Denver, Buffalo, Seattle, Concord, Calif., and Houston.

With the Magic Mountain asset, Shapiro said that they have not ruled out adding more family elements to balance out the facility. But before investing more cash, "I think we have to at least have some conversations with those that have expressed interest," he said.

A new owner could either continue to operate the facility as a theme park; dismantle and sell attractions; or demolish the park and reuse the land.

Whatever path Shapiro takes, Ortiz of Santa Clarita said she would welcome Six Flags to meet with Santa Clarita officials before a decision is made.

"We'd certainly be interested in talking with them," she said. "We would hope they make a stop at city hall before they left town."

BY CHRIS. COATES 

Staff Reporter