Sony is paying more than a few peanuts to get majority ownership of Charles M. Schulz’s beloved Peanuts franchise featuring Snoopy, Charlie Brown and more.
Sony Pictures Entertainment and Sony Music Entertainment (Japan) announced that they entered into a definitive agreement with Canadian media company WildBrain to indirectly acquire all of the 41% stake held by WildBrain in Peanuts Holdings LLC.
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Sony will pay CAN $630 million to WildBrain for the 41% stake, or roughly $457 million. The closing of the transaction is subject to certain closing conditions, including regulatory approvals.
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