Universal Studios is in early planning stages to build a new theme park in Saudi Arabia, thus setting up a potential rivalry with Disney in the booming Middle East market, reported the Wall Street Journal citing people with knowledge of the matter.
American multinational mass media, telecommunications, and entertainment conglomerate Comcast Corporation is doing initial concept work for the park, which may be financed by a Saudi government-backed entity as part of a licensing deal with Universal, said the report.
Its CEO Brian Roberts had travelled to Saudi Arabia last month for an investment conference and visited the entertainment and sports megaproject Qiddiya, the report added.
Headquartered in Philadelphia, Comcast is known for its Xfinity brand providing cable, internet, and mobile services, alongside its entertainment holdings like NBCUniversal, Peacock streaming, and Universal theme parks, reaching hundreds of millions globally with content and connectivity.
Ranked 51st in the Forbes Global 2000 in 2023, it is the fourth-largest telecoms company by worldwide revenue.
