Sony to acquire ‘Peanuts’ for $457 million
The company will own 80 percent of the shares in the franchise starring Snoopy and Charlie Brown.
Sony is paying approximately $460 million to acquire Peanuts and its characters, including Snoopy and Charlie Brown, created by Charles M. Schulz. That’s a 41 percent stake that Sony is buying from Canadian company WildBrain.
Since Sony acquired a 39 percent stake in the franchise in 2018, the company will own 80 percent of the stock. The deal still needs to be approved by regulators, but Peanuts will become a consolidated subsidiary of Sony once it closes. The Schulz family still owns the remaining 20 percent of the franchise.
Schulz launched the Peanuts comic strip universe 75 years ago in 1950. Since then, the franchise has grown exponentially, spawning animated series, animated musicals and films that have made Snoopy a household name.
The company said it has focused on developing the Peanuts intellectual property since acquiring a 39 percent stake in the brand years ago. “With this additional ownership stake, we are excited to further enhance the value of the Peanuts brand by leveraging the Sony Group’s extensive global network and collective expertise,” added Shunsuke Muramatsu, CEO of Sony Music Entertainment Japan.
Credits:
Image:
