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

YouTube TV’s price hike gives cable operators breathing room to run the next big TV race, which will be fought and won on the TV UX battleground.

Charter Communications said it will add five “Latino targeted TV networks” to its Spectrum TV lineup.

Among pay TV subscribers and broadband-only subscribers, YouTube and Netflix were among the favorite services featured in makeshift video bundles.