US media giant Comcast has agreed to buy a 51 per cent stake in Osaka-based Universal Studios Japan.
The $1.5bn investment extends Comcast’s ownership of the Universal Studios entities – with it also a shareholder in the US-based Universal Studios and theme parks via its NBC Universal unit.
The tourist attraction competes with Tokyo Disneyland and has failed to gain market momentum since its launch in 2001.
However, numbers have picked up again following the opening of new attractions such as Wizarding World of Harry Potter July 2014.
Brian Roberts, chief executive of Comcast, announced to reporters in Osaka: “We see Comcast and NBCUniversal becoming more of a global company.
“This is the beginning of us making more global investments.”
Comcast expects the transaction to be finalised by November.