Davis Polk Reps NBCUniversal In $1B Theme Park Bid

Law360, New York (June 6, 2011, 10:04 PM EDT) -- NBCUniversal Inc. said Monday it will buy 50 percent of Universal Orlando Resort from The Blackstone Group LP for $1 billion in order to consolidate its ownership of Florida theme parks.

The deal, expected to close July 1, would give NBCUniversal complete control of Universal Orlando's two theme parks, Universal Studios Florida and Islands of Adventure, as well as Universal's CityWalk.

NBCUniversal CEO Steve Burke said the deal confirms the media company's long-term commitment to Universal Orlando and the theme park business.

"Universal Orlando is a...
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