Dynamic Wealth Management Headlines: Comcasts Nbcu Buys Blackstones Universal Parks Stake For

Dynamic Wealth Management Headlines: Comcasts Nbcu Buys Blackstones Universal Parks Stake For

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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-stake-for-1-billion.html

Comcast Corp. (CMCSA)s NBCUniversal agreed to buy the 50 percent stake in two Universal Studios theme parks it doesnt 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, Philadelphia-based 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, Universals Islands of Adventure and the CityWalk dining, retail and entertainment area.

Comcast, the largest U.S. cable TV provider, gained majority control of NBCUniversal in January from General Electric Co. (GE) by paying $6.5 billion in cash and contributing $7.25 billion in assets to a joint venture that owns the media company.

Blackstone, created in 1985 by Stephen Schwarzman and Peter G. Peterson, has other entertainment-related investments such as Merlin Entertainment Group, operator of the London Eye, and SeaWorld Parks & Entertainment.

Private-equity firms pool money from investors to buy companies and then typically spend a number of years seeking to boost sales and cut costs to sell them later at a profit. The sale price would give Blackstone and its backers a return in excess of three times its original investment.

The transaction puts the overall value of the Orlando, Florida parks at about $3.17 billion, Philadelphia-based 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, Universals Islands of Adventure and the CityWalk dining, retail and entertainment area.

Comcast, the largest U.S. cable TV provider, gained majority control of NBCUniversal in January from General Electric Co. (GE) by paying $6.5 billion in cash and contributing $7.25 billion in assets to a joint venture that owns the media company.


At the Dynamic Wealth Management Zurich, Switzerland, we realize that no two clients are the same. Every client has different financial needs, goals, and plans. For this reason, the DWM offers a wide array of investment options to suit every client. We tailor your investment strategy to be as individual as you are.

About the Author:
At the Dynamic Wealth Management Zurich, Switzerland, we realize that no two clients are the same. Every client has different financial needs, goals, and plans. For this reason, the DWM offers a wide array of investment options to suit every client. We tailor your investment strategy to be as individual as you are.



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