Mar 01, 2017 07:22 PM EST

Comcast Makes Move To Fully Own Universal Studios Japan

Comcast Corp. has set its eye on fully controlling Universal Studios Japan. The plan to fully own Universal Studios Japan is expected to help Comcast build its theme parks business in Asia.

Gaining full control of a company could mean there would be less opposition when it comes business decisions. Comcast is acquiring the 49 percent of Universal Studios Japan from other investors, making it the sole owner of the company.

The U.S. cable operator plans to shell out as much as 254.8 billion yen, or $2.27 billion, just to acquire the remaining Universal Studios Japan shares that it does not currently own, according to a report by Reuters.

The Universal Studios Japan shareholders that are expected to sell their shares to Comcast include Goldman Sachs and private equity firm MBK. Other Universal Studios Japan Chief Executive Officer Glenn Gumpel and U.S. hedge fund Owl Creek Asset Management will also give up their shares of Universal Studios Japan to Comcast, Bloomberg News reported.

The announcement of the plan comes just two years after Comcast acquired a 51% stake in Universal Studios Japan. The U.S. cable operator's move could be interpreted as a confidence to the market environment concerning theme parks business in Asia.

Comcast is reportedly planning to further expand its theme parks business, with plans to build a theme park destination in China's Beijing. There are also plans to open a theme park in Singapore.

Universal Studios Japan has become a popular tourist destination in Asia, attracting millions of people each year. The theme park company plans to open a Minion-themed park in 2017, just three years after it opened The Wizarding World of Harry Potter.

Meanwhile, Comcast competitor Verizon secured a lower price for Yahoo! Internet assets, Jobs & Hire previously reported.

Get the Most Popular Jobs&Hire Stories in a Weekly Newsletter
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics