'Peanuts' Sold For $175 Million To Joe Boxer Owner
United Media Licensing represents other characters such as Dilbert and Fancy Nancy, but it's no secret that the bulk of its licensing comes from 'Peanuts'. Schulz created the iconic Peanuts comic strip in 1950 and it went on to become one of the widely syndicated comic strip in history. The brand is licensed in over forty countries and annual retail sales of over $2 billion. The sale also means that the family of the late 'Peanuts' creator, Charles Schulz, will receive twenty percent ownership after contributing that percentage of the sale price. "This asset is a dream for a marketer," Neil Cole, chief executive of Iconix, tells the 'Wall Street Journal'. "We believe Peanuts large global footprint and broad licensing relationships will also open up new doors for our existing portfolio of brands and future acquisitions." "Neil and his team have great respect for who the Peanuts characters are and they honor all we have accomplished, and the spirit with which we do business," says Mr. Schulz's widow, Jean Schulz. "Peanuts now has the best of both worlds. Family ownership and the vision and resources of Iconix with all the goodwill his lovable characters bring." In March, Iconix announced a joint venture with Madonna that will let it use the pop star's name and personality for apparel and footwear. This new deal will now also allow it to develop a name for its brand new juniors collection to be sold at Macy's.
EW Scripps Co. has announced that it selling the unit that owns the licensing rights to Snoopy, Charlie Brown and the rest of the 'Peanuts' gang for $175 million to Joe Boxer owner Iconix Brand Group Inc.
April 27, 2010 | |
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