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

16 May 2018

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".

"The Peanuts characters, and the brand representation that Americans and other fans around the world love, will remain essentially the same", DHX Media spokesman Shaun Smith told CNNMoney.

Sony Music Entertainment said Monday it signed a deal with DHX Media, based in Nova Scotia, Canada, to acquire 49 percent of the 80 percent stake DHX holds in Peanuts, The Associated Press reported. Per a report at Variety, the move gives Sony a 39 percent share, dropping the share of its majority owner - DHX Media - down to 41 percent. In the eight years since Sony Creative Products has represented Peanuts in the Japanese market, it's already grown the franchise by a reported 200 percent. Charles Schulz, the creator of Peanuts, will continue to own 20 percent of Peanuts. In 2017 he earned $38 million and became one of the world's top-earning deceased celebrities, placing third on the Forbes list past year.

Stay tuned to Multiversity Comics for more "Peanuts" news.

DHX Media acquired the "Peanuts" brand as part of a $345 million acquisition of the entertainment division of Iconix Brand Group in May 2017. DHX said it was now selling almost half that stake to pay off debt.

DHX Media and Sony aim to complete the transaction on or about June 30.

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