Television

Iconix gobbles up Peanuts brand for $175 million

MUMBAI: The famous Peanuts brand that includes the popular character Snoopy has changed hands for $175 million.
Iconix Brand Group has signed a definitive agreement with United Features Syndicate, Inc. ("UFS") and Scripps to acquire the Peanuts brand and related assets in partnership with the Schulz family.


As part of the transaction, which costs $175 million, Iconix will also acquire the licensing and character representation business of United Media Licensing, a division of UFS, which, in addition to Peanuts, represents a number of character brands, including Dilbert and Fancy Nancy.


The Peanuts brand and other acquired assets will be purchased through a newly formed subsidiary, which will be owned 80 per cent by Iconix and 20 per cent by the Schulz family.
 
The characters of Peanuts, include Charlie Brown, Snoopy, Lucy, Linus, Sally, Schroeder, Peppermint Patty and Woodstock.


Peanuts has a strong diversified global licensing platform with over 1,200 licensing agreements including relationships with MetLife, Hallmark, Universal Studios, Warner Bros., Cedar Fair, H&M, Benetton, Old Navy, CVS and Walgreens. The Peanuts brand is licensed in over 40 countries and generates annual retail sales of over $2 billion.


Iconix Brand Group chairman and CEO Neil Cole says, " Peanuts is considered one of the most influential comic strips of all time and with its 60th anniversary this year the characters continue to be as popular as ever. Owning the Peanuts business moves Iconix well beyond fashion into a true global brand management entity with a wide variety of agreements that range from theme parks to media to financial institutions."


Jean Schulz, wife of the late Charles M. Schulz, commented, "We are grateful and proud of the active partnership we have had with United Media for the past 60 years. From the beginning, my husband worked directly with the people using his art to preserve the authenticity of his characters. Since his death, we have continued to do the same, working directly with our licensees to be true to my husband‘s art."


Craig Schulz, son of Charles M. Schulz, stated, "The Schulz family is extremely excited by the opportunity to create this partnership with Neil Cole and Iconix. Peanuts now has the best of both worlds, family ownership and the vision and resources of Iconix to perpetuate what my father created throughout the next century with all the goodwill his lovable characters bring."


On a pro-forma basis the company expects Peanuts to generate approximately $75 million in annual royalty revenue and add approximately $0.12-$0.15 in annual EPS.


Different from a typical Iconix acquisition, the costs associated with the Peanuts business will be higher than the company‘s existing brands as there is an existing contractual revenue share with the Schulz heirs, which is separate from the family‘s 20 per cent interest in the new partnership. There are also agent commissions and additional administrative costs associated with managing over 1,200 contracts around the world.


Initially, EBITDA margins for this business are expected to be in a range of approximately 20-25 per cent. In 2010, the accretion will be impacted by deal costs and will depend on the timing of the close.
 

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/DD-800x800.jpg?itok=PriYkDkh
Sponsored serials: Doordarshan issues new invite for eight genres

Doordarshan has invited fresh entries under the sponsored category for the mid prime time band in eight different categories.

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/Smriti-Irani.jpg?itok=mgydNZ1A
Doordarshan sourcing agencies' pre-bid meet on 30 Aug

Doordarshan has decided to empanel agencies for crowd sourcing artistes (t

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/dd.jpg?itok=m7Ijk7-U
DD Kashir: Prime Focus, Beehive & Grasshopper shortlisted for packaging

Three agencies have been shortlisted by Doordarshan to undertake the channel packaging work for its channel, DD Kashir. The agencies are -- Prime Focus Technologies Pvt Ltd, Beehive Systems Pvt Ltd, and Grasshopper Media Pvt Ltd.

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/inside%20%281%29.jpg?itok=k6O4gL4H
Hindi GEC: Star Plus reclaims top urban slot & Zee Anmol retains lead in two markets

In the Hindi GEC genre this week, Star Plus has reclaimed its top slot and Zee Anmol has retained its leadership in two markets -- Hindi GEC (rural plus urban) and Hindi GEC - rural, according to BARC India all-India week 32 data.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/pkl.jpg?itok=o_f2tEkX
PKL rural telecast exceptionally propels Star Sports First to top

Star Sports First, primarily on the strength of PKL viewership in urban as well as rural areas, has again retained its lead with almost double the ratings as compared to BARC week 32's second position-holder.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/viwer.jpg?itok=sSGbkCn6
Times Now narrows gap with Republic TV, again

Over the last few weeks, a see-saw ratings battle is on between the two of the leading Indian English news channels - the Arnab Goswami-led Republic TV that has held a pole position for over a quarter of a year since its launch, and its nearest competitor and the ratings king it dethroned - Times...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/ss_0.jpg?itok=BLplwPWV
English Ent.: MNX leads & Zee Cafe retains top slot with significant drop

Times rebranding gamble seems to have paid off. Three weeks after Movies Now 2 was rechristened as MNX, it topped the weekly viewership chart of BARC India's latest all-India data.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/love-aur-dhokha.jpg?itok=HtkxcIii
ABP News' 'Love aur Dhokha' revisits 6 untimely deaths

The film and television industry, while well known and envied for its glamour and lifestyle, has also had its fair share of tragedies over the years. Tragedies which took away some of the brightest and most promising stars of the industry and left behind a plethora of questions about what happened...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/Brett_Hogg.jpg?itok=kxEwzszH
Sony moves ahead with own distributors in four SE Asian countries post Spider-Man's success

MUMBAI: Sony Pictures Entertainment is reportedly planning to launch distributors of its own in four countries after terminating a longstanding theatrical-releasing joint venture with Disney in Southeast Asia. Sony has plans to launch Sony Pictures Releasing units in Singapore, Thailand, and...

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories