Some buzz about GE's interest in Seaworld
As many know, since the Belgian beer mogul InBev acquired Anheuser Busch in 2008, Seaworld has been up for sale. Companies like General Electric which are co-owners of Universal Studios may have been kicking around the tires of Seaworld.
In former blogs we mentioned that GE's Universal Studios has nearly a $1 billion debt and may be cashed strapped by next year. That said, could GE be looking for other revenues to pay of the Universal Loan? When asked, Jeff Immelt, Chief Executive Officer won't comment whether they have been sniffing aournd Anheuser Busch Corp.
Since there has been some changes in the industry, Seaworld may be very attractive to companies looking for some place to plant their nest egg. Although the sale of Seaworld has shifted a bit, GE is always looking for opportunities to grow their Entertainment business.
Seaworld continues to be more attractive each day with it's new rollercoaster Manta coming online ahead of schedule. Guests may begin boarding this much anticipated attraction by next week. Safety checks of inverted-flying in addition to pumping water into the aquarium have been completed.
Manta, the ride that causes two world's to collide by transporting guests into a world of sting rays has been tested by Seaworld Employees.
Seaworld would make an attractive package for anyone that is an industrial participant in the market for an investment.
With nearly $1 billion in debt, the #2 theme park Universal Orlando warns that it could be cash-strapped by next spring leaving it in a precarious position with film-maker Steven Spielberg. Pieces of the Universal could go up for sale if it can not begin to restructure it's business and get new loans.
Over $950 million of loans will need to be re-financed by the theme parks operating company according to filings with federal regulators. Universal must meet it's deadline to avoid paying an additional $500 million loan on it's property and equipment.
Getting new loans will be far more difficult because lenders are imposing stricter terms on all entertainment industries. Many of these big entertainers have been in default unable to negotiate their debts. Part of the impasse that Universal faces is the 22-year-old consulting contract with Steven Spielberg whose movies have created several themed attractions at the park. Spielberg could demand the rest of the consulting fees as a buy-out resulting in millions of dollars.
As Florida's sixth largest employer, Universal (second behind Disney) drew 10 million people last year while employing 13,000. According to park officials, Universal has met it's financial obligations said Tom Schroder.
In former blogs we mentioned that GE's Universal Studios has nearly a $1 billion debt and may be cashed strapped by next year. That said, could GE be looking for other revenues to pay of the Universal Loan? When asked, Jeff Immelt, Chief Executive Officer won't comment whether they have been sniffing aournd Anheuser Busch Corp.
Since there has been some changes in the industry, Seaworld may be very attractive to companies looking for some place to plant their nest egg. Although the sale of Seaworld has shifted a bit, GE is always looking for opportunities to grow their Entertainment business.
Seaworld continues to be more attractive each day with it's new rollercoaster Manta coming online ahead of schedule. Guests may begin boarding this much anticipated attraction by next week. Safety checks of inverted-flying in addition to pumping water into the aquarium have been completed.
Manta, the ride that causes two world's to collide by transporting guests into a world of sting rays has been tested by Seaworld Employees.
Seaworld would make an attractive package for anyone that is an industrial participant in the market for an investment.
With nearly $1 billion in debt, the #2 theme park Universal Orlando warns that it could be cash-strapped by next spring leaving it in a precarious position with film-maker Steven Spielberg. Pieces of the Universal could go up for sale if it can not begin to restructure it's business and get new loans.
Over $950 million of loans will need to be re-financed by the theme parks operating company according to filings with federal regulators. Universal must meet it's deadline to avoid paying an additional $500 million loan on it's property and equipment.
Getting new loans will be far more difficult because lenders are imposing stricter terms on all entertainment industries. Many of these big entertainers have been in default unable to negotiate their debts. Part of the impasse that Universal faces is the 22-year-old consulting contract with Steven Spielberg whose movies have created several themed attractions at the park. Spielberg could demand the rest of the consulting fees as a buy-out resulting in millions of dollars.
As Florida's sixth largest employer, Universal (second behind Disney) drew 10 million people last year while employing 13,000. According to park officials, Universal has met it's financial obligations said Tom Schroder.
posted by michael at
9:49 AM
