Blackstone will sell millions of dollars worth of SeaWorld stocks in wake of Blackfish documentary
by Megan Thompson
Categories: Animals, Causes.

It is now old news that the controversial documentary “Blackfish” took a monumental toll on the SeaWorld corporation during the weeks and months after its release. In the wake of the film, celebrities spoke out, activists boycotted, performers cancelled and stocks dropped. However, the effects of the moving documentary have lasted until today – more than a year after its premier at the Sundance Film Festival.

According to a prospectus filed on Monday, The Blackstone Group is planning to sell 15 million shares of SeaWorld Entertainment. The shares, which were valued at $33.17 each at close of market last Friday, are worth about 498 million dollars.

Blackstone currently has a 42.8 percent stake in SeaWorld, but that amount will go down to 25 percent after the shares are sold. SeaWorld is expected to buy some of the shares directly from Blackstone in a private transaction.

Since the release of “Blackfish” raised disturbing questions about SeaWorld’s treatment of captive orcas and brought the corporation into the public eye, considerable financial difficulties have mounted against SeaWorld.

In the months after “Blackfish” was released, many parks were forces to cut ticket prices after attendance plummeted and, as a result, stock prices suffered.

Bad news for SeaWorld. Great news for captive orcas.

Related on Ecorazzi

+SeaWorld Stock Dropping as ‘Blackfish’ Takes its Toll

+Celebrities Rip SeaWorld to Shreds Thanks to ‘Blackfish’

+Watch: Heartbreaking Clibs from ‘Blackfish’

About Megan Thompson

Megan is a healthy living and natural beauty advocate who is obsessed with sustainable gardening, food politics, human rights and animal protection. An L.A. native, she loves staying on top of the latest pop culture news and green lifestyle trends. When she is not writing, she loves going to the beach, hula hooping and working on upcycling projects.

View all posts by Megan Thompson →
  • billpo

    Let’s see Blackstone sell ALL their shares. Then I’ll be impressed.