NBCUniversal To Purchase Blackstone's Interest in Universal Orlando

Jun. 6, 2011 (Business Wire) -- NBCUniversal and The Blackstone Group announced today that they have entered into an agreement under which NBCUniversal will purchase The Blackstone Group’s 50% interest in Universal Orlando. The purchase price for Blackstone’s interest is $1.025 billion, subject to various purchase price adjustments. The enterprise value of this transaction is $3.165 billion and it is expected to close on July 1, 2011. Following the closing, NBCUniversal and its affiliates will own 100% of Universal Studios Florida, Universal’s Islands of Adventure and Universal CityWalk which are located at Universal Orlando.

Steve Burke, Chief Executive Officer, NBCUniversal, said, “The acquisition consolidates our ownership and confirms our long-term commitment to Universal Orlando and the theme park business. Universal Orlando is a consistent and significant driver of operating and free cash flow and is performing extremely well. It has a superb management team and exciting growth opportunities. This purchase of the Blackstone interest is attractively valued and represents strong financial returns for NBCUniversal.”

“We are proud of the extraordinary growth and success that Universal Orlando experienced during our eleven years of ownership,” said Michael Chae, Senior Managing Director of Blackstone. “Throughout this period we have been committed to investing for long-term growth in partnership with the Company's management and NBCUniversal, and we are gratified with the results of this strategy.”

The purchase price for Blackstone’s Universal Orlando interest will be funded with cash on hand at NBCUniversal, borrowings under NBCUniversal’s existing revolving credit facility and a one-year $400 million note to NBCUniversal from an affiliate of Comcast Corporation.

Universal Orlando Resort has created some of the world’s most innovative theme park attractions – all based on pop culture’s most compelling stories and characters. Guests experience two exciting theme parks—Universal Studios and Islands of Adventure, where they can soar above Hogwarts with Harry Potter, swing above the streets with Spider-Man, battle aliens alongside Agent J, help Shrek save Princess Fiona and create mischief with Bart Simpson -- as well as Universal CityWalk, a 30-acre restaurant, shopping, and nighttime entertainment complex. In addition, there are three magnificently themed on-site hotels: the Loews Portofino Bay Hotel, Hard Rock Hotel, and the Loews Royal Pacific Resort.

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Orlando, Florida is the most famous vacation spots inside entire world. Orlando has a lot to provide and will definitely satisfy your trip. However, probably the most significant issue that you just need to maintain in mind just before exploring the several attractions there is how you might be able to visit the places you desire to go.

The theme parks are 1 in the common parts of an Orlando vacation. For Orlando visitors with limited budget, it’s a great option to book accommodations from Disney Orlando hotels that offer inexpensive lodging packages that include tours on the popular theme parks in Orlando. Rooms in discounted hotels don’t compromise comfort. Guests can nonetheless expect extra amenities from these affordable hotels that are located near the major theme parks including Universal Studios and Walt Disney. Additional amenities include totally free shuttle assistance to these theme parks so the guests can save significantly time and money.

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