For those who are saying that they expect the park will be sold off in the coming years, I can't see it. Magic Mountain was already one of the crown jewels in the Six Flags portfolio thanks to its location and offerings (one of the true coaster capitals of the world located right next to a major population hub). It's got a unique offering compared to everyone else in SoCal, which by itself will let it keep an audience for decades.
This is not to say the park cannot be improved. The Six Flags company really did a "great" job of letting standards slip all over the place as they were acquiring parks and needed to increase profits to compensate. My guess is that MM will receive way more care now that it is part of this new Six Flags/Cedar Fair conglomerate, and that the new company will try to bring it up to the standards they have at Cedar Park and Knotts. I would expect the new company to also try and diversify the attraction offering a bit - they've lost a few of their non-coaster rides in recent years to keep adding coasters in competition with Cedar Park, but I imagine the company will be smarter about adding things now that both parks are under their control.
But the bones of a fantastic park are here. Not many places can claim they have multiple coasters that can plausibly rank as the best coaster in the world (Twisted Colossus, X2) or have historic coasters like Revolution and Gold Rusher still running. The park itself will be fine, and now you just have to hope new management can fix things up along the margins to make it better.