Majority Stake in 'Peanuts' Brand Purchased by Canadian Media Company

Majority Stake in 'Peanuts' Brand Purchased by Canadian Media Company Photo: File Photo

May 11, 2017 07:30 AM

A Canadian media company announced Wednesday it has purchased a majority share of the "Peanuts" brand.

DHX Media Ltd. stated it had acquired an 80 percent stake in the brand. The remaining 20 percent, according to the company's announcement, will continue to be held by family members of Charles M. Schulz, the creator of the famed cartoon.

The deal, which also included a majority stake in the "Strawberry Shortcake" brand, was valued at $345 million.

"Peanuts is one of the world's greatest entertainment brands, with a tremendous global legacy of comics, animated content and consumer products reaching back almost 70 years," Dana Landry, CEO of DHX Media, said in a statement. "We are thrilled by the opportunity to welcome Charlie Brown, Snoopy, Lucy, Linus and the entire Peanuts gang into our family."

DHX Media also oversees such shows as "Teletubbies," "Inspector Gadget," "Caillou" and "Degrassi."

"DHX Media feels like a perfect fit for Peanuts," Jean Schulz, widow of Charles M. Schulz, said in a statement. "We respect their innovative and rich history with developing children's shows and brands, and we look forward to working with Dana and his team to steward Peanuts in the future."

Schulz grew up in St. Paul and created the comic strip in the city. In 2015, St. Paul Mayor Chris Coleman declared Oct. 20 "Charles M. Schulz Day."