DHX Media Finalizes Sale of Minority Stake in Peanuts

DHX Media has officially sold a minority stake in Peanuts to Sony Music Entertainment Japan (SMEJ).

SMEJ indirectly purchased 49 percent of DHX Media’s 80 percent interest in Peanuts for C$235.6 million ($179 million) in cash, subject to certain adjustments contemplated in the original agreement. DHX Media now owns 41 percent of Peanuts, while SMEJ owns 39 percent and the members of Charles M. Schulz’s family retain their 20 percent interest.

DHX Media and SMEJ have also secured a deal to extend the duration of the current licensing and syndication agency agreement with SMEJ’s consumer products division, Sony Creative Products (SCP) in Japan.

Michael Donovan, the executive chair and CEO of DHX Media, commented, “Through this transaction, we have reduced our debt while retaining control of Peanuts and strengthening our relationship with a world-leading entertainment and consumer products company. Peanuts is enormously popular around the world, and we look forward to working with Sony to continue driving growth for Charlie Brown, Snoopy and the rest of the Peanuts gang.”