Sony snaps up Snoopy in $475 million deal to acquire Peanuts franchise
Sony has acquired a majority stake in the 75-year-old comic strip universe, adding to the entertainment giant's ballooning IP inventory
Getty Images / Michael Loccisano
Sony $SONY has paid $475 million to the Canadian company WildBrain for a majority stake in the Peanuts franchise.
The Japanese media conglomerate will have an 80% stake in Peanuts Holdings LLC, the entity behind the 75-year-old comic strip universe built around Charlie Brown, Snoopy, and a gang of philosophizing children. The deal doubles Sony's current ownership, after acquiring 39% in 2018. The Schulz family, heirs to creator Charles M. Schulz’s legacy, will retain the remaining 20% stake.
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Sony’s push for control fits a broader strategy to leverage beloved intellectual property across new formats and markets. In recent years the company has woven its entertainment assets — film, music, television, and now legacy comics — into a tighter web, betting that deploying familiar characters can attract audiences, in an increasingly crowded streaming market.
Sony will release a ninth Spider-Man movie next year, building on a Marvel comic book franchise that dates back to 1962. In July, the company also acquired a 2.5% stake in the Japanese anime and gaming giant Bandai Namco for approximately $464 million. The partnership seeks to capitalize on booming global demand for Japanese IP, particularly in the rapidly growing anime sector. Together, the Japanese entertainment titans plan to leverage their combined strengths to expand the anime fandom worldwide and create “new and emotionally moving experiences” for audiences.
Building on its hunt for new IP, last month Sony announced it had acquired screen rights to Labubu, the cult designer plushie turned global collectible, owned by Chinese toymaker Pop Mart. It was unveiled on Thursday that Paul King — who directed Wonka and both Paddington films — will direct the movie.
But Sony isn't the only entertainment company betting that nostalgia can be repackaged for new audiences.
Last week, Disney $DIS struck a $1 billion licensing agreement with OpenAI. As part of the deal, users of Sora, OpenAI's short-form video app, will be able to generate and share videos starring more than 200 Disney, Marvel, Pixar, and Star Wars characters, which can also be distributed across social media. Disney will also become a major customer of OpenAI's services, to build new products, tools, and experiences, including for Disney+.