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Sony grabs handful of DHX’s Peanuts

Peanuts was created by Charles M Schulz

Sony Music Entertainment (SME) in Japan is acquiring a stake in iconic US children’s property Peanuts from Canadian distributor DHX Media for C$237m (US$185m).

SME will acquire 49% of the 80% interest DHX purchased in 2017, with the remaining 20% staying with the family of creator Charles M Schulz.

The deal leaves DHX with 41% of the property, SME with 39% and the Schultz estate with 20%. DHX said today it would use the proceeds of the deal to pay down debt and reduce leverage.

The move builds on Sony’s existing relationship with Peanuts, which it has distributed and licensed in Japan for the past eight years through its consumer products division Sony Creative Products.

Michael Donovan, who returned to DHX Media as CEO in February, said: “This transaction will allow DHX Media to de-lever our balance sheet as we team up with an ideal partner to help us reach our worldwide growth targets for Peanuts in the coming years.”

The transaction is due to complete by the end of June.


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