Sony is paying more than a few peanuts to get the majority stake in Charles M. Schulz’s beloved Peanuts franchise, starring Snoopy, Charlie Brown and more.
Sony Pictures Entertainment and Sony Music Entertainment (Japan) announced that they have entered into a definitive agreement with Canadian media company WildBrain to indirectly acquire WildBrain’s entire 41% stake in Peanuts Holdings LLC.
Sony will pay WildBrain $630 million Canadian dollars for the 41% stake, or about $457 million. Closing of the transaction is subject to certain closing conditions, including regulatory approvals.
As a result of the transaction, SMEJ and Sony Pictures Entertainment, along with SMEJ’s existing approximately 39% ownership interest, will indirectly own 80% of Peanuts Holdings LLC, while members of Charles M. Schulz’s family will continue to own the remaining 20%. Ownership of the rights to “Peanuts” and management of its business continues to be managed by Peanuts Worldwide, a wholly owned subsidiary of Peanuts Holdings LLC.
With Sony’s 80% stake, Peanuts Holdings LLC (including Peanuts Worldwide) will become a consolidated subsidiary of the Sony Group. SMEJ will take the lead in managing Peanuts Holdings LLC in partnership with SPE.
“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 around the world,” Shunsuke Muramatsu, president and CEO of Sony Music Entertainment Group (Japan), said in a statement. “With this additional stake, we are excited to be able to further increase the value of the ‘Peanuts’ brand by leveraging the Sony Group’s extensive global network and collective expertise.
He continued: “We are deeply committed to continuing the legacy of Charles Schulz and the Schulz family. Together with SPE, and supported by WildBrain’s ongoing partnership, we will continue to pursue new opportunities to ensure ‘Peanuts’ remains a relevant and beloved presence across generations, reaching new audiences and sharing the timeless charm of the ‘Peanuts’ gang for years to come.”
Since acquiring a stake in Peanuts Holdings in 2018, SMEJ said, it has focused on expanding the “Peanuts” IP business while maintaining and further strengthening a positive relationship with the Schulz family. The company said it intends to continue to use its expertise in the character business – and Sony Group’s extensive network – to “drive the growth of the Peanuts IP business and enhance brand equity.”
Ravi Ahuja, Chairman and CEO of Sony Pictures Entertainment, said: “‘Peanuts’ is enduring and iconic. We value the deep collaboration we have with our colleagues at SMEJ and look forward to building on their meaningful partnership with WildBrain and the Schulz family. With our combined strengths, we have the unique ability and extraordinary opportunity to protect and shape the future of these beloved characters for generations to come.”
Josh Scherba, Chairman and CEO of WildBrain, commented: “Sony has been a great partner of the ‘Peanuts’ brand for many years, and we are confident that Charlie Brown, Snoopy and the gang are in good hands with them. We would like to thank the Peanuts Worldwide team, as well as the Schulz family, for their incredible collaboration, and we look forward to working with them and Sony to continue to drive the global success of ‘Peanuts’.”
Charlie Brown, Snoopy and the rest of the “Peanuts” crew were first introduced to the world by Charles M. Schulz on October 2, 1950, when the comic strip debuted in seven newspapers. The franchise has since become a worldwide success. In addition to “Peanuts” shows and specials on Apple TV, the brand encompasses thousands of consumer products, as well as theme park attractions, cultural events, social events, social media and comic books in all formats.
For WildBrain, the deal will eliminate 100% of its debt “and give us the financial flexibility to accelerate the growth of our iconic Strawberry Shortcake and Teletubbies franchises, while also investing in our premium digital content network on YouTube, FAST and AVOD, and new technologies to drive innovation,” the company said.
Under the terms of the agreement, WildBrain also remains a multi-year partner with Peanuts for key services, including serving as a distributor of WildBrain-produced Peanuts content and continuing to operate the Snoopy YouTube channel. Additionally, the company will serve as the exclusive licensing agent through its agency WildBrain CPLG for consumer products in all current territories in Europe, the Middle East, China and Asia Pacific (excluding Japan, Australia and New Zealand).
WildBrain will also operate an exclusive production studio for new Peanuts content – including the previously announced animated feature film – as part of a partnership with Apple TV, recently renewed through 2030.
