Cable TV
Comcast acquires majority stake in Universal Studios Japan for $1.5 billion
MUMBAI: Comcast NBC Universal has agreed to purchase 51 per cent ownership of Universal Studios Japan in a recapitalisation transaction, partnering with the current owners including Goldman Sachs, USJ’s CEO Glenn Gumpel, Asian private-equity firm MBK Partners, and U.S. hedge fund Owl Creek Asset Management.
Comcast NBC Universal’s purchase price for the majority ownership of the theme park destination is $1.5 billion (?183 billion).
Located in Osaka and featuring classic Universal attractions as well as attractions and shows specifically designed for the Japanese market, USJ opened in 2001 and has experienced continued growth in attendance and revenue.
“We are excited to expand our global footprint with this wonderful theme park in Osaka and are excited by the opportunities that lie ahead in Japan and all of Asia. This investment represents a huge opportunity and commitment to creating value for our shareholders and continuing to grow internationally,” said Comcast chairman and CEO Brian L. Roberts.
Acquiring majority ownership of Universal Studios Japan continues Comcast NBC Universal’s ongoing investment strategy for its US parks in Orlando and Hollywood.
“We want to expand our theme park business around the world and this investment in Universal Studios Japan fits perfectly with that strategy. Our theme parks in the U.S. have performed exceptionally well and we look forward to working with our partners to achieve that success in Japan as we plan to introduce significant attractions at USJ over the next five years,” added NBC Universal CEO Steve Burke.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
