Comcast’s Q4 earnings results illustrate that investors need to take a new view of a company primarily known for cable, broadband and streaming service Peacock because of how aggressive its theme-park expansion is.
Management noted on the earnings call it was always looking at ways to expand theme parks and that “it’s a business that we wanted to deploy capital to.” ROI is generally pretty high thanks to the strong free cash flow generation.
With the opening of Epic Universe, Universal Orlando will be better leveraging its IP to extend NBC Universal’s brands to compete more directly with Disney’s parks in Orlando and California.
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