‘Peanuts’ gang sold to Joe Boxer owner for $175M

  Newspaper publisher E.W. Scripps Co. is selling licensing rights for Snoopy, Charlie Brown and the rest of the “Peanuts” gang to Iconix Brand Group Inc., the licensing company that owns Joe Boxer and London Fog. The family of the late “Peanuts” creator Charles Schulz will also own part of the business too, giving it more control of and money from the comic strip’s legacy. Heirs say the deal announced Tuesday for the 60-year-old comic strip is what the artist would have wanted. Schulz worked for decades to win back the rights to his work, which many other artists like himself sold to appear in print. Scripps will sell its licensing unit, which also represents characters such as Dilbert and Raggedy Ann and Andy, to Iconix for $175 million. The bulk of revenue generated by United Media Licensing comes from the “Peanuts” franchise. Iconix will form a partnership with Schulz’ family, who will receive 20 percent ownership in the unit that owns “Peanuts” and pay that percentage of the sale price. Craig Schulz, one of the late artists’ five children, said the family is relieved to win an ownership interest.

April 27, 2010. PR Connections.