Scripps sells rights to Snoopy and friends

[Oldiesmann]

http://www.c21media.net/news/detail.asp?area=79&article=55337

Good grief! Snoopy sells for $175m

Charlie Brown and Snoopy are getting a new parent as part of a US$175m deal that will see Charles Schulz's popular Peanuts characters change hands.

Iconix Brand Group and the Schultz family are buying out rights to the Peanuts franchise along with other brands, including Dilbert, from existing owners United Media and EW Scripps.

The total price tag on the deal is U$175m, with Iconix paying out for an 80% share and the Schulz family taking the remaining 20%.

The Peanuts brand, which has its 60th anniversary this year, has spawned a string of TV series and movies via relationships with Universal Studios and Warner Bros.

It generates annual retail sales of over US$2bn through 1,200 licensing agreements in more than 40 countries. Iconix said it expects to derive US$75m in annual royalties from these activities.

No plans have yet been unveiled for a revival of Charlie Brown, Snoopy, Lucy, Linus, Sally, Schroeder, Peppermint Patty and Woodstock, but Iconix said the acquisition would help it diversify beyond its core business.

Iconix chairman and CEO Neil Cole described the deal as "transformative."

"The Peanuts brand is iconic, with some of the most beloved and well-known characters in history," he said. "Owning the Peanuts business moves Iconix well beyond fashion into a true global brand management entity with a wide variety of agreements that range from theme parks to media to financial institutions."

Jonathan Webdale

27 Apr 2010

© C21 Media 2010

Also reported via AP, but this article is a bit more detailed than the AP's version.

Didn't even know that Scripps owned the rights to Snoopy until now.

This is particularly interesting as EW Scripps is based in Cincinnati.

[CoastersRZ]

Already discussed here: http://www.KICentral.com/forums/index.php?showtopic=21310&st=0&p=374906&fromsearch=1entry374906