Breaking News Seaworld Sold

[Grumpy]

http://www.examiner.com/x-10554-Orla...cted-Wednesday

SeaWorld Orlando officials are scheduled to make an announcement to employees on Wednesday (Sept. 23) that the theme park and several other Busch Entertainment properties have been sold.

Central Florida News 13, citing "insiders and experts", reported that a private equity firm known as The Blackstone Group has purchased SeaWorld. What makes this a big deal is that The Blackstone Group owns half of Universal Orlando.

Wednesday's impending announcement is just another development that could possibly shake up Orlando's theme parks. Earlier this month, Disney's $4 billion purchase of Marvel raised questions of the future of Universal's Marvel licensing at its Islands of Adventure park. Also, Disney's Fantasyland overhaul and Universal's construction of the Wizarding World of Harry Potter aim to change the landscape of their respective attractions.

Besides SeaWorld, Busch Entertainment's properties in Central Florida include Aquatica, Discovery Cove and Busch Gardens Tampa.

More details will be posted as they are confirmed.

[LuvDisney]

Interesting.

[Grumpy]

SeaWorld Sold In Busch Buyout

ORLANDO -- The Blackstone Group and Anheuser-Busch InBev announced Wednesday that it has made a deal to sell its entertainment business to Blackstone Capital Partners for $2.7 billion.

That entertainment business includes three SeaWorld parks in Orlando, Florida, San Antonio, Texas, and San Diego, two Busch Gardens parks in Tampa and Williamsburg, Va., and other family entertainment attractions in Orlando, Tampa, Williamsburg and Langhorne, Pa.

The Blackstone Group also currently owns a 50 percent stake in Universal Orlando Resort.
Employees at SeaWorld expect to know more about how a buyout of the park will affect them.

Those concerns will be addressed in full at two meetings Thursday morning and afternoon.

"The same management team will be in place. We have no staff reductions as a result of the transaction. In fact, we'll be hiring some new positions in Orlando because of it," said Jim Atchison, Busch Entertainment Corporation president.

Support staff jobs will be the first addition. Those jobs are done by Anheuser-Busch workers in St. Louis.

“Employees are very excited about this transaction and excited about what this means for them,” Atchison said.

“Blackstone sees tremendous opportunity for investing in leading businesses within the media and entertainment industries, where we have significant expertise. We are delighted to be investing in a company with such iconic brands, irreplaceable assets and strong growth prospects,” said Michael Chae, Senior Managing Director of the Blackstone Group. “We look forward to working with BEC management in continuing a legacy of delivering world-class family entertainment to our customers.”

Anheuser-Busch InBev had been trying for months to sell the theme parks it acquired in 2008, including SeaWorld, Aquatica, Discovery Cove and Busch Gardens Tampa Bay. Blackstone was named as a likely buyer months before the deal was finally announced.

Blackstone has owned a portion of Universal Studios for years, and experts said they are an investment group that basically just wants their money.

Blackstone is also the majority owner of Merlin Entertainments Group, which runs the Legoland theme parks and has reportedly been considering building a Legoland in Central Florida.

Merlin Entertainments also operates various European theme parks and the London Eye giant Ferris wheel.
What Does This Mean for the Parks?

How will the buyout affect what visitors see at the parks?

Industry experts agree that the Blackstone Corporation will most likely not bring any major shakeups to the park's standards.

"Shamu's not going anywhere, the dolphin shows are going to stay," said Duncan Dickson, UCF Hospitality Management.

Dickson says the Blackstone Corporation is much more interested in the financial side and not so much the management, the bottom line.
Sources close to the deal said the buyout includes a sponsorship agreement that allows Busch Gardens to keep its name, as well as continue active park promotions, including the “Here’s to Heroes” program offering free admission to the military.

Signs advertising Anheuser-Busch and its products -- as well as the famous Budweiser Clydesdale horses -- will also be removed from the parks.

As rumors of a Busch buyout spread, analysts, especially here in Central Florida, had speculated that Blackstone might have SeaWorld and Busch Gardens team up with Universal to better compete with Walt Disney World, but Blackstone said Wednesday that was not their plan, and they would be maintained as separate companies.