Sony secures 49 per cent stake in Peanuts

Sony Music Entertainment has purchased a 49 per cent stake of DHX Media’s 80 per cent interest in Peanuts. The purchase was made for US$185 million in cash, subject to customary working capital adjustments. As per the deal, DHX Media will retain 41 per cent of Peanuts, while Sony Music will own 49 per cent and the members of the family of Charles M Schulz will continue to own 20 per cent. DHX Media and Sony Music have also agreed to extend the duration of the current licensing and syndication agency agreement with Sony’s consumer products division, Sony Creative Products in Japan. A leading IP management company in Japan, Sony Consumer Products has been representing Peanuts since 2010 and is currently spearheading multiple licensing programmes celebrating the 50 anniversary of Peanuts’ launch in Japan. commenting on the announcement, Michael Donovan, executive chair and CEO of DHX Media said, "We are honoured to deepen our relationship with Sony Music Entertainment as we continue our expansion of Peanuts globally.” “Sony Music Entertainment has incredible expertise in rights management across the entertainment and consumer products industries, having successfully grown the Peanuts business in Japan over 200 per cent since they became our agent in 2010,“ Donovan added.