Sony buys legendary Peanuts franchise with Snoopy
By ForGeeks
Sony is acquiring an additional stake in Peanuts for about $460 million and increasing its ownership to 80 percent, making the brand featuring the Snoopy and Charlie Brown characters a consolidated subsidiary.
Sony has agreed to buy an additional stake in the Peanuts franchise created by artist Charles M. Schulz. The company will pay approximately $460 million for the 41 percent stake, which is owned by Canada’s WildBrain. Including the deal, Sony’s stake in Peanuts will rise to 80 percent.
Sony had previously acquired 39 percent of the rights to the franchise in 2018. Once the current deal closes, Peanuts will become a consolidated subsidiary of Sony. Completion of the purchase is contingent on regulatory approvals. The Charles M. Schulz family will retain the remaining 20 percent of the rights to the franchise.
The family of Charles M. Schulz will retain the remaining 20 percent of the rights to the franchise.
The Peanuts universe began in 1950, when Schultz began publishing comic strips of the same name. Over 75 years, the brand has expanded significantly to include animated series, musical cartoons and feature films. The characters of Snoopy and Charlie Brown have become recognizable around the world and have turned Peanuts into one of the best-known media brands.
Sony said it has consistently developed Peanuts’ intellectual property since buying the stake in 2018.
