Sony Group Corp. agreed to acquire a controlling interest in the Peanuts franchise, paying C$630 million ($457 million) to WildBrain Ltd. for its 41% stake in the holding company behind Snoopy and Charlie Brown.
The transaction would give Sony’s music and film units an 80% stake in Peanuts Holdings LLC when combined with the 39% interest Sony Music Entertainment Japan acquired in 2018. The Schulz family, heirs of creator Charles M. Schulz, will retain 20%. Sony said it expects to record a remeasurement gain on its existing stake, though the company is still assessing the financial impact.
For WildBrain, the cash-out represents a profitable exit. The Toronto-based company acquired the Peanuts stake in 2017 as part of a $345 million purchase of Iconix Brand Group. WildBrain said proceeds will eliminate 100% of its debt and save roughly $50 million annually in interest payments.
Despite selling its ownership position, WildBrain will continue serving as exclusive licensing agent in Europe, the Middle East and parts of Asia, and remains the designated production studio for Peanuts content under a deal with Apple TV+ that runs through 2030.
Whether Sony can extract meaningful growth from a 75-year-old property remains to be seen. The company pointed to its global entertainment network as a vehicle for brand expansion, though the deal’s success will hinge on navigating existing streaming commitments and licensing arrangements that limit Sony’s operational flexibility.
The transaction requires regulatory approval.
