Tuesday, May 15, 2018

Sony Music Buys $185M Stake In 'Peanuts' Brand | hypebot

image from celebrityaccess.comSony Music Entertainment (Japan) has today announced that it has acquired a stake in the iconic ‘Peanuts’ brand. Created by Charles M. Schulz in 1950 and owned by Nova Scotia-based DHX Media, Sony purchased 49% of DHX Media’s 80% stake in ‘Peanuts’ for $185 million.

DHX originally acquired the ‘Peanuts’ brand as part of a $345 million acquisition of the entertainment division of Iconix Brand Group in May 2017.

Also part of the deal is an extended licensing and syndication agreement which will see Sony Creative Products working on a number of licensing programs to mark the 50th anniversary of the ‘Peanuts’ brand’s debut in Japan.

In a statement, Michael Donovan, executive chair and CEO of DHX Media, said: “We are honoured to deepen our relationship with Sony Music Entertainment (Japan) as we continue our expansion of ‘Peanuts’ globally. Sony Music Entertainment (Japan) has incredible expertise in rights management across the entertainment and consumer products industries. This transaction will allow DHX Media to de-lever our balance sheet as we team up with an ideal partner to help us reach our worldwide growth targets for ‘Peanuts’ in the coming years.”

Image: Snoopy Kassy CC BY-SA 4.0 via Wikimedia Commons

- CelebrityAccess

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