Comcast to Buy Blackstone’s Stake in Parks, TheWrap.com Reports

Comcast Corp., owner of NBC Universal Inc., intends to acquire Blackstone Group’s 50 percent stake in two Universal theme parks in Florida, the website TheWrap.com reported.

Comcast is expected to pay $1 billion to $1.5 billion for the stake in Universal Studios Florida and Islands of Adventure, the website said, citing a person with knowledge of the deal. Comcast’s board is expected to approve the transaction, the website said.