Comcast reportedly ready to buy $1B stake in Universal theme parks

Historically, Comcast (Nasdaq: CMCSA) has not been a company in love with partners, so it should come as no surprise that the new owners of NBCUniversal are willing to pay between $1 billion and $1.5 billion to be sole owners of theme parks Universal Studios Florida and Islands of Adventure.

The recipient of Comcast's largesse would be Blackstone Group which, for now at least, owns a 50 percent stake in the two Orlando theme parks. Blackstone has been shopping its interest in the two parks since March and a deal must be finalized by June 12 to stop it from continuing to put its share on the open market, according to The Wrap Media, which broke the story.

According to Comcast's recent earnings reports, the theme parks are doing well (with $1.1 billion in revenues last year). Comcast, the report claims, is willing to pay the price to keep those revenues in its diverse portfolio.

For more:
- The Wrap has this story

Related articles:
Comcast-NBC Universal merger OK'd by 4-1 FCC vote
Regulatory delays gave Comcast time to understand NBC Universal

Suggested Articles

Comcast last Friday moved Turner Classic Movies to its Sports Entertainment add-on package, a move that angered several subscribers.

With the streaming wars intensifying, the “aggregation wars” are poised for greater activity as well: everyone wants a piece of this pie.

Comcast/NBCUniversal is reportedly shifting around its management team ahead of the company’s high-profile launch of Peacock.