Burke Kicked Out of Six Flags

Updated from 7:32 a.m. EST

The Kieran Burke era has ended at amusement-park operator Six Flags(PKS Quote).

Burke, the CEO targeted in a proxy fight by major holder Dan Snyder, was replaced by Snyder loyalist and former ESPN executive Mark Shapiro, the company confirmed Wednesday. The ouster, which was first reported by the Wall Street Journal, followed Burke's unsuccessful efforts to find a buyer for the company.

"Six Flags announced today that the deadline for submission of final bids in its sale process has passed without any formal bids being received. The board of directors has unanimously ended the sale process," the company said. ...