Tuesday, April 27, 2010
CINCINNATI (AP) — You've got a new owner, Charlie Brown.
E.W. Scripps Co. said today it will sell 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.
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 $2 billion. Some 20,000 new products are approved each year, in conjunction with more than 1,250 licensess in about 40 countries.