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Sony secures portion of Peanuts

Peanuts was created by Charles M Schulz

Sony Music Entertainment (SME) in Japan has concluded its previously announced purchase of a minority stake in iconic children’s property Peanuts from Canadian distributor DHX Media.

SME has acquired 49% of the 80% stake DHX bought in the brand in 2017, with the remaining 20% remaining with the family of creator Charles M Schulz.

SME has paid C$235.6 million (US$185m) in cash for the stake, leaving DHX with 41% of the brand, SME with 39% and the Schulz estate with 20%.

Michael Donovan, executive chairman and CEO of DHX Media, said: “Through this transaction we have reduced our debt while retaining control of Peanuts and strengthening our relationship with a world-leading entertainment and consumer products company.”

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

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