Three U.S. Firms on Universal Studios' $7.8B Move Into China
The Comcast-owned theme park company is planning to open its biggest-ever location in Beijing in 2019.
September 16, 2015 at 09:48 PM
2 minute read
Paul Hastings is advising a group of Chinese state-owned investors on a deal to bring the first Universal Studios Hollywood theme park to China.
The project, which will be located in Beijing, is slated for a 2019 launch and is being billed as Universal Studios' largest-ever park, according to Chinese state-run Xinhua News. The Associated Press cited state-media reports that put the total cost at 50 billion yuan, or $7.8 billion.
Universal Parks & Resorts, which is owned by Comcast Corp., is partnering with Beijing Shouhuan Cultural Tourism Investment Co. Ltd., a consortium of four Chinese state-owned companies, to develop Universal Beijing. The deal was signed in New York earlier this week.
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