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Wednesday, March 16, 2011

Blackstone looks to sell Orlando theme park stake, (NYSE: BX)

Blackstone Group (BX.N) wants to sell NBC Universal its 50 percent share of Universal Orlando, the Florida theme park featuring a popular new Harry Potter attraction. Blackstone, which bought into the theme park in 2000, has set in motion a right of first refusal clause that gives NBC Universal until June 12 to make a decision. NBC Universal owns the remaining 50 percent of the park. Should NBC Universal turn down the deal, Blackstone can then approach third parties and attempt to sell all of Universal Orlando, according to terms of the contract.

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