Comcast is buying a majority stake in Universal Studios Japan for $1.5 billion

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FILE - This June 11, 2013, file photo, shows the Comcast Corp. logo during The Cable Show 2013 convention in Washington. Comcast is buying a majority stake in theme park operator Universal Studios\' Japanese arm for .5 billion, the company announced Monday, Sept. 28, 2015. Comcast, which owns NBCUniversal, will have 51 percent ownership of the business. (AP Photo/Susan Walsh, File)

NEW YORK, N.Y. – Comcast is buying a majority stake in theme park operator Universal Studios’ Japanese arm for $1.5 billion.

Cable operator Comcast, which owns NBCUniversal, will have 51 per cent ownership of the business.

Universal Studios Japan, which opened in Osaka in 2001, has many of the company’s well-known attractions, as well as rides and shows geared specifically toward the Japanese market.

NBCUniversal CEO Steve Burke said in a written statement on Monday that the acquisition will help to expand the company’s theme park business around the world.

Comcast is based in Philadelphia.

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