In Florida, Comcast and Disney Start a Border Warhttp://www.fool.com/investing/general/2014/03/15/in-florida-comcast-and-disney-start-a-border-war.aspx Tim Beyers
March 15, 2014
Theme parks are about to become a bigger part of Comcast's (NASDAQ: CMCSA) business, Fool contributor Tim Beyers says in the following video.
The Philadelphia Inquirer reported this week that Comcast is putting some $500 million into theme park expansion annually. Work is already under way to significantly expand the company's attractions located near Walt Disney's (NYSE: DIS) competing parks in Orlando, Fla.
There's plenty at stake for both companies. Theme parks accounted for $14.1 billion in revenue and $2.2 billion in operating profit for Disney in fiscal 2013. Comcast, for its part, generates $2.2 billion in revenue and $1 billion in operating cash flow from resort operations such as Universal Orlando, the Inquirer reported.
Competition could grow fiercer with Comcast choosing to expand in Florida. Executives told the Inquirer that the company is "doubling down" on theme parks and expects to grow