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00:03Universal Studios is in early planning stages to build a new theme park in Saudi Arabia,
00:08according to the Wall Street Journal. The Comcast unit is doing initial concept work for the park,
00:14which a Saudi government-backed entity could finance through a licensing deal.
00:18No agreement has been completed, and the multi-billion dollar project would likely
00:22open in the 2030s. Comcast Chief Executive Brian Roberts visited Saudi Arabia last month
00:28and toured Qadiyah. Comcast is expanding its theme park business,
00:32which has higher profit margins than other NBC Universal operations.
00:37Building theme parks in the Middle East presents operational and reputational challenges,
00:41but the region is attractive to companies for its new audiences and earnings potential.
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