×
You will be redirected back to your article in seconds

Comcast Takes Full Ownership of Universal Studios Japan

Comcast has set a $2.3 billion buyout deal to take full ownership of Universal Studios Japan.

The pact marks another sign of Comcast’s commitment to the theme park business that has generated solid growth in the five-plus years since the cable giant bought up NBCUniversal. Comcast is buying out partners in the Osaka-based theme park that include Goldman Sachs, former Universal Studios Japan CEO Glenn Gumpel and private equity firms Owl Creek Asset Management and MBK Partners. The deal is expected to close by the end of April.

The Universal Studios parks in Hollywood and Orlando, Fla., have been consistent contributors to Comcast’s bottom line, and the company has invested big in infrastructure improvements and new attractions such as the Harry Potter-themed installations. Universal Studios Japan opened its “Wizarding World of Harry Potter” attraction in 2014 and will unveil “Minion Park,” tied to the “Despicable Me” franchise, later this year.

“Universal Studios Japan is an amazing and incredibly successful theme park,” said Tom Williams, chairman-CEO of Universal Parks & Resorts. “This acquisition will bring an even stronger future for the theme park, its guests and its team members. We are thrilled USJ will fully be part of the Universal family and look forward to continuing to create a remarkable experience for our guests.”

Early on after its NBCU acquisition, Comcast expected to sell the Universal theme parks but execs changed their tune after becoming more familiar with the businesses. Comcast’s acquisition last year of DreamWorks Animation was driven in part by the ability to use its characters and properties as fodder for the parks.

Universal Studios Japan opened in 2001. Comcast is in the midst of building a theme park in Beijing, and it has a licensed Universal Studios venture in Singapore.

More Biz

  • Sumner Redstone

    Judge Appoints Legal Guardian, Britney Spears' Former Conservator, for Sumner Redstone

    A probate judge on Monday appointed an independent legal guardian to represent Sumner Redstone, finding he is incapable of representing his interests in a trust battle with his former companion. Redstone, the chairman of National Amusements, Inc., is 95 and suffers from severe speech impairment and diminished mental faculties. Judge David Cowan appointed probate attorney [...]

  • IWC Schaffhausen store opening, Rodeo Drive,

    8 Luxury Gifts That Industry Leaders Are Spending Their Paychecks On

    Whether you’re celebrating a new launch, a new business venture, or toasting to the end of another successful year, here are eight gift ideas to reward yourself — and to impress the company you keep. 1. Saint Laurent Perforated Leather Tote Bag If you work in the industry, you need a good bag, and you’ve [...]

  • best airlines ranked inflight entertainment

    Holiday Travel Survey Reveals Airlines With Best In-Flight Entertainment

    There are many ways to pass the time if you’re in the air, but for most people, settling in with a glass of wine and a movie is the preferred way to fly. But not all airlines share the same script when it comes to entertainment offerings. A new survey from the website, CableTV.com, ranked [...]

  • Ventana Sur Rocks with Sales, Mass

    Ventana Sur Rocks with Sales, Mass Attendance, Structural Growth

    BUENOS AIRES — Celebrating its 10th anniversary with a huge hike in attendance to over 4,000 accredited delegates, the 2018 Ventana Sur will go down in history on multiple counts: Sales and pick-ups on movies which combined social comment and entertainment value, increasingly the new foreign-language movie standard; new sections, led by a Proyecta co-production [...]

  • Jennifer Lawrence Harvey Weinstein

    Jennifer Lawrence Denies Harvey Weinstein's Claim in Latest Assault Lawsuit

    Harvey Weinstein was hit with a lawsuit Friday from an actress who claims he forcibly performed oral sex on her, repeatedly masturbated in front of her, and threatened to harm her career if she objected. The suit details that Weinstein claimed he was trying to help her and that he was the gateway to her dreams. [...]

  • Times Up Hollywood

    Time's Up Entertainment Announces New Industry Mentoring Initiative

    Time’s Up Entertainment, an affiliate of the Time’s Up coalition of women across industries working to improve workplace safety, has announced the “Who’s in the Room” industry mentoring initiative. The program’s goal is to increase the presence of people of color from diverse backgrounds in the entertainment industry’s executive ranks. Funded by a $500,000 grant from [...]

More From Our Brands

Access exclusive content