Six Flags Rides Upswing

Bugs Bunny is shaping up as a linchpin in the Six Flags (PKS Quote) turnaround.

The Oklahoma City, Okla., thrill ride company is in the midst of a transition that has some Wall Street wags speculating about a move into Hollywood. Big shareholder Dan Snyder, who also owns the National Football League's Washington Redskins, last month prevailed in a proxy battle. He celebrated by kicking out CEO Kieran Burke, after Burke oversaw a period of poor performance and failed to find a buyer.

Now, new chief Mark Shapiro wants to remake the company's image, from an operator of roller coasters to a provider of family entertainment. For now, those plans rely in part on exploiting the Looney Tunes and DC Comics cartoon characters Six Flags has licensed from Time Warner's (TWX Quote) Warner Bros. ...