DHX buys Peanuts, Shortcake

DHX Media in Canada is to acquire a majority stake in iconic US children’s property Peanuts, plus preschool IP Strawberry Shortcake, for US$345m.

DHX is taking an 80% stake in Peanuts

DHX will take an 80% controlling interest in Peanuts, with the remaining 20% continuing to be held by the family of creator Charles M Schulz.

It has also acquired 100% of Strawberry Shortcake as part of a deal with the entertainment division of Iconix Brand Group.

The transaction, which brings the brands under the same owner as Teletubbies, Inspector Gadget and Caillou, is expected to close on or around June 30 this year, DHX said.

DHX will monetise existing Peanuts content, which it said totals more than 340 half-hours, via YouTube and other VoD services.

Five hundred animated shorts based on the Peanuts comic strip were produced by French studio Normaal for France Télévisions in 2015, while Iconix launched a feature film based on the IP in the same year.

The new Strawberry Shortcake & Friends

Strawberry Shortcake, meanwhile, was sold by American Greetings Entertainment to Iconix Brand Group for US$105m in 2015.

DHX Studios and Iconix announced a new 39×30′ animated series based on Strawberry Shortcake last year. The property was created in 1980 and re-launched in 2010 with the CGI-animated series Strawberry Shortcake’s Berry Bitty Adventures.

“Peanuts is one of the world’s greatest entertainment brands, with a tremendous global legacy of comics, animated content and consumer products reaching back almost 70 years,” said Dana Landry, CEO of DHX Media.

Jean Schulz, widow of Charles M Schulz, added: “DHX Media feels like a perfect fit for Peanuts. We respect their innovative and rich history with developing children’s shows and brands, and we look forward to working with Dana and his team to steward Peanuts in the future.”

Finance for the deal was provided by Jefferies and RBC Capital Markets with Jefferies acting as the lead adviser to DHX on the deal.