Six Flags to reimburse Snyder for expenses in proxy fight

Wednesday, April 12th 2006, 11:09 am

By: News On 6

WASHINGTON (AP) -- Six Flags Incorporated has agreed to pay Washington Redskins owner Daniel Snyder nearly $10.5-million for expenses related to his takeover of the Oklahoma City-based company.

A filing with the Securities and Exchange Commission says Snyder had asked for nearly $11.5-million.

The filing says Snyder's company Red Zone LLC spent at total of $11.6-million in the successful takeover. Six Flags' previous management company says it spent $9.4-million in an effort to maintain control of the company.

Since the takeover Six Flags has announced plans to move its corporate headquarters from Oklahoma City to New York and to sell two theme parks it owns in Oklahoma City -- Frontier City and White Water Bay.