The Six Flags corporation hopes selling off nearly half of its debt will allow it to get out of bankruptcy by the end of the year, park officials said.

The company's plans won't be felt locally and will have no effect on the operation of Magic Mountain, said park spokeswoman Sue Carpenter.

"This was done by our corporate offices," she said. "It has nothing to do with the local park ... We will remain open for business as usual."

In June, the parks' corporate offices in New York filed for bankruptcy protection after disclosing debts greater than $2 billion.

Company officials hope the new plan will get the company out of bankruptcy by the end of the year, Carpenter said.