Comcast is set to make its largest purchase outside of the US when the entertainment conglomerate buys a majority stake in Universal Studios Japan for US$1.5bn (€1.3bn, £988m).
Universal’s number of foreign visitors to its park in Japan have more than doubled since the park opened its Harry Potter attraction in 2014.
According to company statistics, more than 12 million people visited the park in the last financial year – an increase from 10.5 million on previous figures a year earlier.
In a statement, Comcast said it will buy 51 per cent of USJ Co – the holding company which owns the Universal theme park in Osaka – in a deal which will give Universal Studios Japan an enterprise value of US$6.2bn (€5.5bn, £4.1bn).
“We will make more investments – not only Osaka but also other areas,” said chief executive Brian Roberts, who added that while the sale had only been finalised this month, the purchase plan had been in the works since it acquired NBCUniversal in 2011.
On the back of huge growth driven by the success of Universal’s Harry Potter attractions, Comcast – the parent company of Universal – has started an aggressive expansion of its theme park business globally.
In addition to further investment at its parks in the US, with additions such as
Harry Potter at Universal Studios Hollywood and the
Volcano Bay waterpark in Orlando, Universal also recently signed a
C¥50bn US$7.85bn (€6.93bn, £5bn) deal for its largest theme park ever, which will open in Beijing, China in 2019.
Plans are also in the works for a non-branded theme park on the Japanese island of Okinawa. Commenting, USJ CEO Glenn Gumpel said the potential development could be a near-term opportunity, adding that it is too early to further comment on the matter.
