Comcast buying majority stake in Universal Studios Japan

AP News
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Posted: Sep 28, 2015 7:44 AM
Comcast buying majority stake in Universal Studios Japan

NEW YORK (AP) — Comcast is buying a majority stake in theme park operator Universal Studios' Japanese arm for $1.5 billion.

Cable operator Comcast, which owns NBCUniversal, will have 51 percent ownership of the business.

Universal Studios Japan, which opened in Osaka in 2001, has many of the company's well-known attractions, as well as rides and shows geared specifically toward the Japanese market.

NBCUniversal CEO Steve Burke said in a written statement on Monday that the acquisition will help to expand the company's theme park business around the world.

Comcast is based in Philadelphia.