Six Flags, Inc. (NYSE:SIX) revealed their game plan for 2007 today, in which they announced deals with Thomas & Friends, The Wiggles, Tony Hawk, mtvU, Cold Stone Creamery and Heinz. But perhaps most notably, the company announced that it would reach a decision on potential asset sales by the end of the year and added that if the parks are sold it will be strictly as ongoing concerns. Six Flags had said that it was considering the sale of some of its parks in an effort to reduce is $2.2 billion in debt last year; however, many are skeptical that the the company will be able to receive a bid high enough to meaningfully reduce the company's debt - a number that may need to be as high as $800 million. This skepticism comes after the company's unsuccessful attempt to sell itself last year along with a rumored $650 million offer for six properties from MidOcean Partners and theme-park operator Herschend Family Entertainment Corp - a number far less than expected.

With shares already down 20% this year, investors are becoming increasingly restless. Investors were hoping for a clean turnaround after Syder, the company's largest investor, won a three-month battle with former CEO Kieran Burke for control of Six Flags last year. However, shares have only continued their decline with the recent quarter still showing decreases in net income and revenues across the board. Management insists that this is a "transition year", and the situation would improve through 2007. If the asset sale is successful in attracting meaningful bids and management is able to reduce the debt load and turn around the company, Six Flags could see significant share appreciation. This makes SIX a stock worth watching over the following year.

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