3 days ago
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Happiness is taking control of a beloved comic strip.
Sony is buying a 41 per cent stake in the Charles M. Schulz comic Peanuts and its character,s including Snoopy and Charlie Brown from Canada’s WildBrain in a US$457 million deal, the two companies said Friday.
The deal adds to Sony’s existing 39 per cent stake, bringing its shareholding to 80 per cent, according to a joint statement. The Schulz family will continue to own the remaining 20 per cent.
“With this additional ownership stake, we are thrilled to be able to further elevate the value of the ‘Peanuts’ brand by drawing on the Sony Group’s extensive global network and collective expertise,” Sony Music Entertainment President Shunsuke Muramatsu said.
Peanuts made its debut 2 October 1950 in seven newspapers. The travails of the “little round-headed kid” Charlie Brown and pals including Linus, Lucy, Peppermint Patty and his pet beagle Snoopy eventually expanded to more than 2,600 newspapers, reaching millions of readers around the world in 75 countries and 21 languages.
The comic strip captured hearts and inspired TV specials, including 1965’s A Charlie Brown Christmas. Peanuts was inducted into the Licensing International Hall of Fame in 2018, the same year that Snoopy in Space took off on Apple TV Plus.
Sony acquired its first stake in Peanuts Holdings LLC in 2018 from Toronto-based WildBrain Ltd. In Friday’s transaction, Sony’s music and movie arms signed a “definitive agreement” with WildBrain to buy its remaining stake for 630 million Canadian dollars or equivalent to US$457 million.
Rights to the Peanuts brand and management of its business are handled by a wholly-owned subsidiary of Peanuts Holdings.
WildBrain also owns other kids’ entertainment franchises including, Strawberry Shortcake and Teletubbies.
AP
English (US) ·