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

May 31 (Bloomberg) -- 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.

Link to Company News:{BX US <Equity> CN <GO>} Link to Company News:{CMCSA US <Equity> CN <GO>} Link to Company News:{GE US <Equity> CN <GO>}

To contact the reporter on this story: Anthony Palazzo in Los Angeles at apalazzo@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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