Sony buys a majority stake in the ‘Peanuts' comic for $457 million [Los Angeles Times (CA)]
Sony Group Corporation American Depositary Shares (SONY)
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Source: Los Angeles Times
Schulz comic “Peanuts” and its characters including Snoopy and Charlie Brown from Canada's WildBrain in a $457 million deal, the two companies said Friday. The deal adds to Sony's existing 39% stake, bringing its shareholding to 80%, according to a joint statement. The Schulz family will continue to own the remaining 20%. “With this additional ownership stake, we are thrilled to be able to further elevate the value of the ‘Peanuts' brand by drawing on the Sony Group's extensive global network and collective expertise,” Sony Music Entertainment President Shunsuke Muramatsu said. “Peanuts” made its debut Oct. 2, 1950 in seven newspapers. The travails of the “little round-headed kid” Charlie Brown and pals including Linus, Lucy, Peppermint Patty and his pet beagle Snoopy eventually expanded to more than 2,600 newspapers, reaching millions of readers in 75 countries. The strip offers enduring images of kites stuck in trees, Charlie Brown trying to kick a football, tart-tongued Luc
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