Jana Partners sent a letter to the Six Flags board pushing the company to explore a sale and replace board chair Marilyn Spiegel — just one week after the Travis Kelce brand ambassador announcement. We break down what Jana actually wants, why the timeline doesn't add up, and what this means for CEO John Reilly's turnaround plan. 

Then: Sesame Workshop filed a federal lawsuit against United Parks to terminate their licensing agreement. United Parks stopped paying royalties in September 2025, took over a year to pay a court-ordered $11.4 million judgment, and is still operating Sesame-branded parks and attractions. We dig into the pattern, the contract questions, and what happens to the parks if Sesame walks.