Blackstone Group puts Universal Orlando up for sale

Leah Zanolla | Posted: Mar 21, 2011 | Updated: Oct 19, 2014 - 9:25:27 AM

According to the Orlando Sentinel, the Blackstone Group has set into motion a chain of events to sell its share in Universal Orlando. NBCUniversal, which owns the remaining 50% of Universal Orlando, was officially presented with the opportunity to purchase Blackstone's interest weeks ago. The end result could be anyone from NBCUniversal to an outside company purchasing Blackstone's 50% share.

The article suggests NBCUniversal has until June 12th to either accept or reject Blackstone's offer (the exact figure has not been disclosed). If the offer is rejected, Blackstone could opt to find another bidder to purchase its share as well as NBCUniversal's. If Blackstone accepts an offer, NBCUniversal would be required to sell its 50% share. Apparently, an offer from anyone other than NBCUniversal "would have to be worth at least 180 percent of the price" Blackstone submitted to its current co-owner. Further complicating the matter is the fact that current licensing restrictions in place at Universal could pose some problems if NBCUniversal doesn't accept Blackstone's offer.

"Warner Bros., for instance," says the Sentinel, "can cancel Universal's rights to Harry Potter if NBCUniversal no longer owns at least half of the resort, unless the new buyer meets certain 'financial and reputation tests.'" In addition, the current success of Wizarding World of Harry Potter could cause some problems when it comes to assigning a monetary value on the theme parks and resorts. It is still unknown whether or not the Wizarding World will be able to sustain its success in the long term. A potential bidder's opinion on this matter would greatly affect any offer that would be made.