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In June 2006, Six Flags announced it was considering closing or selling up to six of its parks, including Elitch Gardens, Darien Lake, WaterWorld in Concord, California, Wild Waves and Enchanted Village in Federal Way, Washington, Splashtown in Houston, Texas and, most notably, Six Flags Magic Mountain.
In addition, Six Flags also announced the sale of Wyandot Lake in Powell, Ohio to the Columbus Zoo and Aquarium, which is located next to the park.
Ultimately, Six Flags Magic Mountain was spared, with the remaining six parks sold on January 11, 2007 to PARC Management for $ 312 million: $ 275 million cash and a note for $ 37 million.

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