Past is present in 'Caprica,' a 'Battlestar Galactica' prequel

Six Flags CEO: We're 'better positioned' than Disney

 
 

Six Flags, the theme park chain owned by Washington Redskins chieftain Dan Snyder, has done a solid job of cleaning up its parks with both revenues and attendance improving last year. But now it faces a bigger challenge trying to clean up its balance sheet.

Last week, the New York company made its latest move to restructure the heavy debt load of more than $2 billion that Snyder inherited when he acquired Six Flags four years ago. Chief Executive Mark Shapiro is trying to orchestrate a deal with Six Flags bondholders to persuade them to swap the debt for equity.

In an internal memo issued Friday, Shapiro said that if the company is able to reach an accord with its bondholders, it would cut its debt and preferred equity obligations by about $1.2 billion and its annual interest and dividend requirements by $90 million. But the clock is ticking: Shapiro has set a June 25 deadline, and if he doesn't get it done, Six Flags may have to hoist a white flag and file for bankruptcy.

Shapiro, reached on the phone, sounds confident it won't come to that and believes that although this summer won't be a walk in the park, Six Flags is better positioned that some of its bigger rivals to weather the recession.

So while we had Shapiro on the line, we popped off a few questions, which he didn't flinch from answering.

Company Town: So you've put your restructuring offer out there. What was the response?

Shapiro: Most of the bondholders are on board. We are going to restructure one way or another. We believe this out-of-court deal is in the best interest of the stakeholders. We've had minor pushback ... one major holdout. But now that the offer is out there, we're hopeful the bondholders recognize it is in their best interest.

How are the parks doing?

The parks are cleaned up and getting the highest guest satisfaction scores in our history. We said we wanted to increase the total revenue-spend-per-guest by 20% and we hit 21% after three years. We wanted 30% EBITDA margins and we clocked in just above that this past year. We went from a company that loses $100 million in free cash flow a year to cash flow positive.

You had said you wanted Six Flags to be a venue for advertising?

We reach 25 million people a year who spend eight to 10 hours in our parks. Last year we did $59 million in ad revenue.

How's the summer shaping up?

I know we are well-positioned. To get into a movie, it costs $10; to get into Six Flags, everyone pays kids' pricing, which is $29.99 a day. Our season pass is $59.99 for the entire year, unlimited visits. In this marketplace, it is a great solution, especially for families that are going through trying times. We understand that the country is in a time of sacrifice right now. At same time families want an escape in tough times. We believe we are a solution to that.

You think you are in a better position than Disney in this climate?

Disney is different situation. It is a "destination park." I’m not sure in these trying times consumers have the appetite for all that comes with a trip to Disney. It is an extraordinary experience, but it is a plane ticket, it is a hotel. All the regional theme parks are in good shape as long as [they deliver] superior quality. Three years ago we couldn't say that. We've done a total makeover.

-- Joe Flint

Photo: Chief Executive Mark Shapiro in front of the Viper ride at Six Flags in Valencia. Credit: Stefano Paltera / For The Times

Past is present in 'Caprica,' a 'Battlestar Galactica' prequel

Two men stand and smoke on an urban street corner. One man wears black gloves, which are traditional mourning garb in his culture.

“Times like these, old ways are supposed to help, I guess,” the other man says.

But “Caprica” (Universal Studios Home Entertainment; three and a half stars), a meditative film that came out Tuesday on DVD  and kicks off an upcoming “Battlestar Galactica” prequel series, is really about new ways and technologies.

As was the case with “Battlestar,” this 93-minute filmâ€"the first installment of a Sci Fi drama that debuts in early 2010â€"doesn’t make blanket pronouncements about how technology is bad and will be our downfall.

True, “Battlestar” was about the war between the mechanized Cylons and flesh-and-blood humans, but the differences between the two races fell away over time. “Being human” was much more about the ability to empathize and feel than the presence of wires or chips in an individual’s evolutionary past.

“Caprica,” even more than “Battlestar,” is an examination of how greed, selfishness, heedlessness and pain prompt people to use technology to avoid difficult situations.

Technology isn’t really the problem; the trouble comes from our belief that we can always control it and use it to keep life from hurting too much or being too hard. Yet anyone who has ever tried to set up a balky new device or felt oppressed by the constant presence of a BlackBerry knows that things that are supposed to make our lives better don’t always do so.

Even if you’re not interested in “Caprica’s” subtexts about technology, this handsome film works well as a thoughtful character study. The cast, including the men who play the two smokers mentioned above, is an embarrassment of riches. Eric Stoltz gives intelligence and quiet charisma to techno-industrialist Daniel Graystone, and Esai Morales (“Jericho”) is perfectly cast as Joseph Adama, a lawyer and immigrant caught between the technocratic culture on the planet of Caprica and the more traditional culture of his own planet, Tauron.

As was the case with “Battlestar,” there are compelling women at the heart of the story: Paula Malcolmson, a “Deadwood” veteran, has a lively, razor-sharp presence that makes her scenes crackle, and Polly Walker (“Rome”) is also excellent as the steely Sister Clarice, the head of an exclusive private school and a major influence on the show’s younger characters.

The younger set of actors, most of whom play students at Sister Clarice’s school, have yet to prove they can match the gravitas and subtlety of the older cast members, but they hold their own. And I wish there was a deeper explanation of the religious beliefs that motivate some of the characters, but presumably that will come when the show returns next year.

One reason Sci Fi is making "Caprica" -- and starting a promotional campaign early by releasing the DVD months before the show arrives -- is because the network wants to catch the attention of viewers who may not be regular viewers of sci-fi fare. There are no space ships and no outer-space battles in this new show, which is set 58 years before the events of "Battlestar"; the world of Caprica looks much like our own.

With any luck, "Caprica" won't have to battle the perception problems that "Battlestar Galactica" faced; it took a couple of seasons for the latter show to get people to realize that it was a taut, bold and thought-provoking study of the heights and depths of human nature, not a superficial remake of a '70s show about robots and the swashbuckling heroes who fought them.

Still, hard-core "Battlestar" fans should be aware that these are different shows. Ronald D. Moore, an executive producer and co-creator of the new show, has been upfront about calling "Caprica" a prime-time "soap opera" (for a few more of Moore's "Caprica" comments look here). It's not about life during wartime; it's about the sacrifices, mistakes and fateful decisions made by individuals, corporations and families.

“Battlestar” has “come to an end, and it’s a beautiful end and [fans] should mourn that show,” Malcolmson said in a March interview. “You can’t just come along with another show that’s going to replicate it. That’s not what we want to do, we want to give them something else.”

The good news for "Battlestar" fans is that show's outstanding composer, Bear McCreary, and special-effects wizard, Gary Hutzel, are part of the new venture. And several of that show's writers will be on "Caprica's" creative staff as well.

Jane Espenson, a co-executive producer who is set to become "Caprica's" day-to-day showrunner, said in January that the new show "will certainly be different, but it's like a different garment made from the same fabric. The beating heart of it will be the same -- complex moral situations, high stakes, compelling characters. Robots."

For a more recent interview with Espenson about "Caprica," look here.

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