Sony Music Entertainment Japan has paid CAN $237 million (US$185 million) in cash to acquire 39% of Peanuts Holdings – the company behind the famous Snoopy and Charlie Brown cartoons.
SMEJ will indirectly purchase 49% of DHX Media’s 80% interest in Peanuts.
The deal leaves DHX Media with 41% of Peanuts, SMEJ with the aforementioned 39%, and the members of the family of Charles M. Schulz will continue to own 20%.
DHX Media and SMEJ have also agreed to extend the duration of the current Licensing and Syndication Agency agreement with SMEJ’s consumer products division, Sony Creative Products Inc. (“SCP”) in Japan.
SCP has represented Peanuts since 2010, and is currently spearheading multiple licensing programs celebrating the 50th Anniversary of Peanuts’ launch in Japan.