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Dynamic Wealth Management Headlines: Comcast’s NBCU Buys Blackstone’s Universal Parks Stake for $1 Billion
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Dynamic Wealth
Dynamic Wealth Management Headlines: Comcast’s NBCU Buys Blackstone’s Universal Parks Stake for
$1 Billion
By Jason Kelly – Jun 6, 2011 3:16 PM PT
http://www.
bloomberg....
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Dynamic Wealth Management Headlines: Comcast’s NBCU Buys Blackstone’s Universal Parks Stake for
$1 Billion
By Jason Kelly – Jun 6, 2011 3:16 PM PT
http://www.
bloomberg.
com/news/2011-06-06/comcast-s-nbcu-buys-blackstone-s-universal-parks-stakefor-1-billion.
html
Comcast Corp.
(CMCSA)’s NBCUniversal agreed to buy the 50 percent stake in two Universal Studios
theme parks it doesn’t already own from private-equity firm Blackstone Group LP (BX) for about $1
billion.
The transaction puts the overall value of the Orlando, Florida parks at about $3.
17 billion, Philadelphiabased Comcast said in a statement today.
Blackstone, based in New York, paid about $275 million for its
stake in 2000.
Blackstone set a June 12 deadline for NBCUniversal to buy its stake, after which the private-equity firm
would have 270 days to sell the entire operation.
The parks comprise Universal Studios Florida,
Universal’s Islands of Adventure and the CityWalk dining, retail and entertainment area.
Comcast, th
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