UPDATED with deal amount in U.S. dollars: Sony's Sony Music Entertainment Japan and U.S.-based Sony Pictures Entertainment said Thursday that they have signed an agreement with WildBrain to acquire the latter's 41% stake in Peanuts Holdings Llc, the holding company for the Charles M. Schulz-created cartoon franchise that includes Charlie Brown, Snoopy and the gang.
The deal is for CAN$630 million, Wildbrain said in a release announcing the deal. That is roughly $457 million U.S.
When the transaction is completed, Sony — which already owns approximately 39% of Peanuts Holdings after a 2018 acquisition — will own 80% of the company. The Schulz family will retain its current 20% stake.
Sony said Wednesday in announcing the deal that ownership of rights to Peanuts and the management of its business will continue to be handled by Peanuts Worldwide, a wholly owned subsidiary of Peanuts Holdings LLC. Peanuts Holdings and Peanuts Worldwide will become a consolidated subsidiary of the Sony Group, with Sony Music taking the lead in managing Peanuts Holdings in partnership with SPE.