E.W. Scripps Co. sold the unit which controls the Peanuts comic strip properties, including Snoopy and Charlie Brown, to Iconix Brand Group, Inc. -- the company which controls the licensing for such brands as Joe Boxer, London Fog, and more. Iconix paid a reported $175 million for control of the the Peanuts properties licensing.
The sale also creates a new partnership between Iconix Brand and Peanuts' creator, Charles Schultz', surviving family members. The Schultz family will pay 20% of the sale's price in exchange for 20% ownership.
Peanuts holdings include numerous TV specials, movies, the iconic comic strip, and more. The characters have also appeared in commercials for companies such as Met Life and CVS, and on products from Hallmark, Old Navy, and others. Licensed Peanuts merchandise is estimated to generate nearly $2 billion, annually.
© C Harris Lynn, 2010
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