Sony tightens grip on Peanuts with $457 million stake buy

JAPAN: Sony has doubled down on the power of legacy brands, snapping up a majority stake in the Peanuts intellectual property in a late-year deal valued at about $457 million.

Sony Pictures Entertainment and Sony Music Entertainment Japan have acquired the roughly 41 per cent holding in Peanuts Holdings LLC previously owned by Canadian children’s entertainment company WildBrain. The move lifts Sony’s ownership to 80 per cent, with the Schulz family retaining the remaining 20 per cent.

The deal brings one of pop culture’s most durable franchises, home to Charlie Brown, Snoopy and the rest of the Peanuts gang, firmly under the Sony umbrella. The characters were created by Charles M Schulz, whose daily comic strip ran for half a century before ending in 2000.

Sony had already been a long-time partner in the business. The latest transaction consolidates control and sharpens the group’s hand as it looks to keep the characters front and centre across film, television, music and consumer products.

President and group ceo of Sony Music Entertainment Japan, Shunsuke Muramatsu, said the additional stake would allow Sony to further elevate the Peanuts brand by drawing on the group’s global reach and creative expertise, while preserving the legacy of Schulz and his family.

President and ceo of Sony Pictures, Ravi Ahuja, said the combined ownership gives Sony the ability to protect and shape the future of the characters for new generations, expanding their relevance without diluting their charm.

Peanuts long ago escaped the confines of the comic strip, cementing its place in popular culture through perennial television specials such as A Charlie Brown Christmas and It’s the Great Pumpkin, Charlie Brown. More recently, WildBrain kept the franchise active with animated series including Snoopy in Space and The Snoopy Show.

Now, with Sony firmly in control, the message is unmistakable. In an industry obsessed with the next big thing, nostalgia still sells and Sony is betting big on a doghouse that refuses to age.