Market Chatter: Comcast's Universal Studios Planning Theme Park in Saudi Arabia

MT Newswires Live12-22 17:41

Comcast's (CMCSA) Universal Studios is in the early stages of planning to develop a new multibillion-dollar theme park in Saudi Arabia, The Wall Street Journal reported Friday, citing people familiar with the matter.

A Saudi government-backed entity could finance the planned project as part of a licensing deal with Universal Studios, according to the report.

Universal Studios hasn't yet completed a deal for the park, which likely wouldn't be finished until the 2030s, the WSJ reported.

Comcast didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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