Yes this has been rumored and most likely reported several different occasions from other people and the press. For those who don??????t know a brief intro:
Six Flags Magic Mountain has run into some fiscal economic losses for the last years (due to problems from gangs to security problems). Now one the heads of the Six Flags is putting it on the ??????chopping block,?????? so to speak. So now some real estate developers are planning to equally purchase the park, destroy it, and yes create some new (in the middle of no where, bad conditions, and not to mention expensive) homes.
Anyways so I have herd from a close friend that works at the park, that they were called to a meeting about the parks grim future. Well it seems that they are supposed to get their ??????pink slips?????? at the end of the year, and the park goes bye-bye. However Valencia (or is it Santa Clarita) have tried to keep the park for internal revnue and won??????t stop trying. The last thing they want are these homes. I believe this could be it for Magic Mountain but I hope not. If it does happen though, I guess we will lose out on one most deverse parks in Six Flags history.
Remember this is still a alternative resource to the parks closeing, so what happens from this might be proved different in the future.