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Comcast is buying a majority stake in Universal Studios Japan for $1.5 billion

Visitors walk in front of The Wizarding World of Harry Potter themed area at Universal Studios Japan, operated by USJ Co., in Osaka, Japan.
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Visitors walk in front of The Wizarding World of Harry Potter themed area at Universal Studios Japan, operated by USJ Co., in Osaka, Japan.

Comcast is buying a majority stake in theme park operator Universal Studios' Japanese arm for $1.5 billion.

Cable operator Comcast, which owns NBCUniversal, will have 51 percent ownership of the business.

Universal Studios Japan, which opened in Osaka in 2001, has many of the company's well-known attractions, as well as rides and shows geared specifically toward the Japanese market.

NBCUniversal CEO Steve Burke said in a written statement on Monday that the acquisition will help to expand the company's theme park business around the world. (Disclosure: NBCUniversal is the parent of CNBC.)

Comcast is based in Philadelphia.