Comcast to buy Japan theme park stake in its biggest overseas deal

Tokyo

COMCAST Corp is making its biggest overseas investment, as the largest US cable operator seeks international growth after being stymied in its bid to acquire its second-largest competitor Time Warner Cable Inc.

Comcast's NBCUniversal unit will pay US$1.5 billion for the stake in USJ Co, the operating company of the Universal Studios Japan theme park in Osaka, Comcast said in a statement. Current shareholders Goldman Sachs Group, MBK Partners and USJ chief executive officer Glenn Gumpel will retain minority stakes.