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Monday, September 28, 2015

Comcast buys majority stake in Universal Studios Japan for $1.5 bln, (NYSE: TWX)

Comcast Corp said it will purchase a majority stake in Universal Studios Japan for $1.5 billion, its biggest investment outside the United States and part of an aggressive expansion of its theme park business globally.Propelled by the huge popularity of Harry Potter attractions, its Universal Studios parks have become a core growth business for Comcast, which saw its $45 billion bid for Time Warner fail on antitrust concerns this year. In addition to further investments undertaken at its U.S. parks, the No. 1 U.S. cable company is also planning a theme park in Beijing as well as an indoor theme park in Moscow."We will make more investments - not only Osaka but also other areas," Chief Executive Brian Roberts told a news conference.

Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 0.37% or $0.25/share to $67.87. In the past year, the shares have traded as low as $66.82 and as high as $91.34. On average, 5204410 shares of TWX exchange hands on a given day and today's volume is recorded at 5659077.