Could the company behind Stranger Things and Wednesday one day own Universal Orlando and Epic Universe? It is a question Hollywood is suddenly asking out loud. This week, Variety reported that industry sources are pointing to Netflix as the most likely buyer for NBCUniversal once Comcast spins the company off next year.
Before anyone starts imagining a Stranger Things land at Epic Universe, it is important to be clear: this is speculation, not a deal. Netflix and Comcast have not announced any talks, offer or agreement, and Netflix has not commented. But the conversation is getting louder, and it could have a big impact on the theme parks many of our readers visit. Here is what we know.
Comcast Is Spinning Off NBCUniversal in 2027
This all starts with Comcast. On June 29, 2026, Comcast announced plans to split into two companies, according to Communications Daily. Comcast will keep its broadband and connectivity business, while NBCUniversal becomes its own publicly traded company by mid 2027.
The new NBCUniversal would include:
- Universal’s theme parks, including Universal Orlando Resort and Epic Universe
- Universal Pictures
- Peacock
- NBC, Telemundo and Bravo
- Sky
Comcast co-CEO Mike Cavanagh is set to lead the new NBCUniversal as CEO. Comcast leadership has described the split as a move to help both businesses grow, not as a setup for a sale.
Why Analysts Think Netflix Could Make a Move
Once the spinoff was announced, analysts began naming possible buyers. In June, Morningstar analyst Matthew Dolgin listed Apple, Amazon and Netflix as potential suitors and estimated NBCUniversal’s assets at around $60 billion, according to Stocktwits via Yahoo Finance. He said Netflix would benefit the most, pointing to the studio, the sports programming and the theme parks as ways to drive growth.
In October, Wolfe Research analyst Peter Supino went a step further on John Ourand’s The Varsity podcast, predicting Netflix will try to buy NBCUniversal after the separation, as reported by Awful Announcing. His main reason is sports. NBCUniversal has one of the biggest sports lineups in the world, including the Olympics and Sunday Night Football, while Netflix only has scattered live events like a handful of NFL games and boxing. As Supino put it, “To matter to a sports fan, you need a year-round offering, not just a season.”
That chatter picked up again this week with Variety’s report, which The Hype Magazine also covered on November 12.
Netflix Has Tried a Big Deal Before
If this sounds familiar, it is because Netflix already went after a major Hollywood studio. In December 2025, Netflix agreed to buy Warner Bros. Discovery’s studio and streaming business in a deal valued at $82.7 billion. Paramount came in with a competing offer, Warner Bros. Discovery’s board chose Paramount’s bid, and Netflix walked away in February 2026, saying the deal was no longer financially attractive.
The difference this time is that a deal for NBCUniversal would come with live sports, news and theme parks, things Netflix does not have today.
What Could This Mean for Universal Orlando and Epic Universe?
This is the part our readers care about most. Right now, nobody knows what Netflix would do with Universal’s parks, because there is no deal. But it is fun, and fair, to think about what could happen if one ever came together.
- New IP in the parks. Universal has already brought Netflix favorites into Halloween Horror Nights, including Stranger Things houses in past years. Netflix owning the parks could open the door to permanent Netflix lands or attractions, from Stranger Things to Wednesday to KPop Demon Hunters.
- Netflix already wants to be in the experience business. The company has been building live, in person experiences with its Netflix House locations, so theme parks would be a big step in a direction it is already heading.
- Licensing questions. Universal’s parks rely on licensed brands like Harry Potter from Warner Bros. and Super Nintendo World from Nintendo. Any change in ownership would raise questions about those long term agreements.
- A new rival for Disney. A Netflix owned Universal would put Disney’s biggest theme park competitor under the roof of its biggest streaming competitor.
Why It May Not Happen
There are some serious hurdles:
- Timing. The spinoff is planned as a tax free separation, which generally means the new NBCUniversal needs to operate on its own for a period of time before a sale would make sense.
- Regulators. A deal this size would face heavy government review, just like Netflix’s attempt at Warner Bros. Discovery did.
- Netflix’s own business. Netflix shares have fallen this year after a softer earnings report, which could make investors wary of another massive purchase.
- Not everyone is convinced. Variety laid out several reasons back in the summer why a Netflix purchase of NBCUniversal is unlikely to happen.
For now, Universal Orlando, Epic Universe and the rest of Universal’s parks are not changing hands. NBCUniversal is set to become its own company in 2027, and Netflix is one of several names analysts expect to be interested. We will be watching closely, and if anything official happens, we will have it here.
For the latest from the parks, visit our Universal Orlando Resort and Epic Universe hub.
What do you think? Would you want to see Netflix running Universal’s theme parks? Let us know in the comments!
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