Good grief as Peanuts gang will be sold
Source: Agencies |
April 28, 2010, Wednesday
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Print Edition
Print Edition
YOU'VE got a new owner, Charlie Brown.
EW Scripps Co said yesterday it will sell the unit that owns the licensing rights to Snoopy, Charlie Brown and the rest of the Peanuts gang for US$175 million to Joe Boxer owner Iconix Brand Group Inc.
The sale of United Media Licensing also means Iconix has a new partnership with the family of the late Peanuts creator, Charles Schulz. They'll receive 20 percent ownership in the unit that owns "Peanuts" and pay that percentage of the sale price.
United Media Licensing represents other character brands such as Dilbert and Fancy Nancy, but the bulk of its licensing business comes from Peanuts. The unit's licensed merchandise has annual sales of more than US$2 billion.
Scripps first brought the strip to market in 1950. By the time Schulz retired in 1999, Peanuts was in more than 2,600 papers. Schulz died in February 2000.
Scripps said the deal will close in the second quarter.
The newspaper publisher and TV station owner announced in February that it was exploring a sale.
Iconix, formerly known as Candie's, owns and licenses brands such as Joe Boxer, London Fog, Starter and Mudd. The company, based in New York, licenses its brands to retailers, wholesalers and suppliers.
Scripps will still own United Media's syndication operations, so it will continue to syndicate comic strips and editorial features.
"The Peanuts characters have been our entertaining co-workers, and the Schulz family has been our trusted partner for nearly 60 years. But this is the right move for all involved as we go our separate ways in recognition of changing times and new strategies," said Scripps CEO Rich Boehne.
EW Scripps Co said yesterday it will sell the unit that owns the licensing rights to Snoopy, Charlie Brown and the rest of the Peanuts gang for US$175 million to Joe Boxer owner Iconix Brand Group Inc.
The sale of United Media Licensing also means Iconix has a new partnership with the family of the late Peanuts creator, Charles Schulz. They'll receive 20 percent ownership in the unit that owns "Peanuts" and pay that percentage of the sale price.
United Media Licensing represents other character brands such as Dilbert and Fancy Nancy, but the bulk of its licensing business comes from Peanuts. The unit's licensed merchandise has annual sales of more than US$2 billion.
Scripps first brought the strip to market in 1950. By the time Schulz retired in 1999, Peanuts was in more than 2,600 papers. Schulz died in February 2000.
Scripps said the deal will close in the second quarter.
The newspaper publisher and TV station owner announced in February that it was exploring a sale.
Iconix, formerly known as Candie's, owns and licenses brands such as Joe Boxer, London Fog, Starter and Mudd. The company, based in New York, licenses its brands to retailers, wholesalers and suppliers.
Scripps will still own United Media's syndication operations, so it will continue to syndicate comic strips and editorial features.
"The Peanuts characters have been our entertaining co-workers, and the Schulz family has been our trusted partner for nearly 60 years. But this is the right move for all involved as we go our separate ways in recognition of changing times and new strategies," said Scripps CEO Rich Boehne.
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