Comcast Purchases Majority Stake in Universal Studios Japan
Comcast announced Monday that the company has reached an agreement to purchase 51 percent of Universal Studios Japan for 183 billion yen, which translates to roughly $1.53 billion.
Reported by Amie Tsang of The New York Times, this deal estimates the value of the Universal Studios Japan amusement park and surrounding properties at around $6.2 billion. The other owners of the park — including Goldman Sachs, MBK Partners, Owl Creek Asset Management and others — will still hold minority stakes in the theme park complex.
Representatives from the NBCUniversal team of Comcast explained to The New York Times that the deal is meant to help the company make a bigger splash in the amusement park industry while also strengthening its impact on the Japanese market.
Comcast chairman and chief executive Brian L. Roberts released a statement, saying, “We are excited to expand our global footprint with this wonderful theme park in Osaka and are excited by the opportunities that lie ahead in Japan and all of Asia.”
When the purchase of NBCUniversal by Comcast was approved in 2011, one of the major additions to the new company was the Universal Studios brand. Comcast now owns Universal Studios Hollywood and Universal Studios Orlando, and also has a licensing deal with Universal Studios Singapore.
In addition to taking over Universal Studios Japan, Comcast also announced its formal plans in September to build the company’s largest theme park in China. The new park will cost an estimated $7.98 billion and should be completed by 2019.
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