NBCUniversal completes takeover of Universal Orlando theme parks
NBCUniversal said Friday that it had finalized its $1-billion purchase of private investor Blackstone Group's 50% ownership stake in the Universal Orlando theme parks in Florida.
Comcast Corp., which controls NBCUniversal, said in a statement that the acquisition was financed with "cash on hand, borrowings under NBCUniversal's existing credit facility and a one-year $250 million note to NBCUniversal from a Comcast Corp. affiliate." The deal was announced in June.
NBCUniversal and affiliates now own 100% of the Universal Orlando Resort, which includes Universal Studios Florida and Universal's Islands of Adventure -- which has seen attendance soar during the last year due to the popularity of the Wizarding World of Harry Potter attraction -- as well as Universal CityWalk.
-- Meg James
Depiction of the Wizarding World of Harry Potter attraction. Credit: Max Toporsky / Universal Orlando Resort