Sony acquires control of Peanuts IP for nearly half a billion dollars
The entertainment giant has spent a bit more than peanuts on Snoopy, Charlie Brown, and others.
Charles M. Schulz's beloved Peanuts comics characters are going to a new home. Snoopy, Charlie Brown, Woodstock and crew have been acquired by Sony in a massive deal worth $457 million. Sony has officially revealed it has entered an agreement with Canadian company WildBrain to acquire the entirety of the 41% stake WildBrain has in Peanuts Holdings LLC.
Via Variety, the transaction hasn't closed yet, and is subject to certain closing conditions, including regulatory approvals. These may just be a formality, though, considering money has already been placed on the table.
Sony Music Entertainment Japan and Sony Pictures Entertainment will hold around 80% of Peanuts following the transaction. The remaining 20% remains with Charles M. Shulz's family. The ownership of rights to Peanuts and the management of its business will continue to be managed by Peanuts Worldwide. However, it's expected with this transaction that Peanuts Holdings LLC and Peanuts Worldwide will become a subsidiary of Sony Group.
"Since 2018, SMEJ has been proud to be part of the partnership behind Peanuts, an iconic global entertainment brand with a 75-year legacy of delighting audiences worldwide," said Shunsuke Maramatsu, president and group CEO of Sony Music Entertainment Japan. "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."
"We are deeply committed to carrying forward the legacy of Charles Schulz and the Schulz family. Together with SPE, and backed by WildBrain's continued partnership, we will continue to embrace new opportunities to ensure that 'Peanuts' remains a relevant and beloved presence across generations," he continued.
