The power of brands continues to enthrall Hollywood.
In a late in the year deal, Sony Pictures Entertainment and Sony Music Entertainment have taken a significant stake in Peanuts Holding LLC, the company that controls the intellectual property rights of the beloved characters created by Charles M. Schulz such as Charlie Brown and Snoopy.
Sony has acquired all of the approximately 41 percent stake held by WildBrain, a Canadian kids’ and family entertainment company.
According to the announcement, the resulting deal will see Sony, which already had a stake in the venture, owning an 80 percent stake in Peanuts Holdings. Members of the Schulz family will continue to own the remaining 20 percent.
“Since 2018, SMEJ has been proud to be part of the partnership behind Peanuts, an iconic global entertainment brand with a 75-year legacy of delighting audiences worldwide,” said Shunsuke Muramatsu, Sony Music Entertainment (Japan) president and group CEO. “With this additional ownership stake, we are thrilled to be able to further elevate the value of the Peanuts brand by drawing on the Sony Group’s extensive global network and collective expertise. We are deeply committed to carrying forward the legacy of Charles Schulz and the Schulz family. Together with SPE, and backed by WildBrain’s continued partnership, we will continue to embrace new opportunities to ensure that Peanuts remains a relevant and beloved presence across generations, reaching new audiences and sharing the timeless charm of the Peanuts gang for years ahead.”