Sony subsidiaries move to expand Peanuts Holdings stake in new deal

Sony Group Corp on Friday announced its subsidiaries Sony Music Entertainment Japan and Sony Pictures Entertainment have signed a definitive agreement with Canada's WildBrain Ltd to acquire its interest in Peanuts Holdings LLC.

The Tokyo-based electronics company said the deal covers WildBrain's approximately 41% stake in Peanuts and is valued at CAD630 million, around USD460 million, subject to closing conditions and regulatory approvals.

Sony said it will lift its indirect ownership of Peanuts to 80%, with the family of creator Charles Schulz retaining the remaining 20%.

Peanuts Holdings, including Peanuts Worldwide LLC, will become a consolidated subsidiary of Sony, with SMEJ leading management in partnership with SPE.

Sony said it expects to record a remeasurement gain on its existing stake once the transaction closes. The company added it will continue to expand the Peanuts brand globally while strengthening ties with the Schulz family.

"We are deeply committed to carrying forward the legacy of Charles Schulz and the Schulz family. Together with SPE, and backed by WildBrain's continued partnership, we will continue to embrace new opportunities to ensure that Peanuts remains a relevant and beloved presence across generations reaching new audiences and sharing the timeless charm of the Peanuts gang for years ahead," said SMEJ Chief Executive Officer Shunsuke Muramatsu.

SPE CEO Ravi Ahuja added: We value the deep collaboration we have with our SMEJ colleagues and look forward to building on their meaningful partnership with WildBrain and the Schulz family. With our combined strengths, we have the unique capability and extraordinary opportunity to protect and shape the future of these beloved characters for generations to come."