Sony Secures Majority Stake in Beloved 'Peanuts' Comic for $457 Million
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Sony has solidified its control over the iconic 'Peanuts' comic strip, purchasing a 41% stake from Canada's WildBrain for $457 million. This deal brings Sony's total ownership to 80%, with the Schulz family retaining 20%. The acquisition will enable Sony to further leverage the global appeal of 'Peanuts,' a brand that has been delighting audiences since its debut in 1950 and has become a staple in over 2,600 newspapers worldwide. The comic, created by Charles M. Schulz, has left an indelible mark on popular culture, with characters like Charlie Brown, Snoopy, and Linus becoming household names. Phrases like 'good grief,' 'security blanket,' and 'happiness is a warm puppy' have become ingrained in the global vernacular. This latest move marks Sony's second major investment in 'Peanuts,' with the company having initially acquired a 39% stake in 2018. The deal was facilitated through a definitive agreement between Sony's music and movie arms and WildBrain, with the latter's subsidiary managing the brand's business. As part of the agreement, WildBrain will receive $630 million Canadian dollars. The 'Peanuts' brand is a valuable addition to Sony's portfolio, joining other renowned franchises like Strawberry Shortcake and Teletubbies. Under Sony's expanded ownership, fans can expect to see further growth and development of the beloved comic strip.
