Sony made a huge investment in the future of Charlie Brown and Snoopy. The company announced this Thursday, the 18th, that it has signed a definitive agreement to acquire majority control of the Peanuts franchise.
Sony Pictures Entertainment and Sony Music Entertainment purchased the 41% stake that belonged to Canadian WildBrain. As Sony Music Entertainment already held 39%, the group will own a total of 80% of the brand, with the remaining 20% remaining with the family of creator Charles M. Schultz.
The deal was closed for 630 million Canadian dollars, which is equivalent to approximately US$457 million. Approval from regulatory bodies is still required.
Created by Schulz and first introduced as a comic strip on October 2, 1950, the Peanuts gang has been a fixture in pop culture ever since.
Currently, the franchise has a strong presence on Apple TV with new animations and specials, in addition to driving a gigantic market of licensed products and theme parks.
