Iconix Brand Group, Inc. announced that it has closed on its purchase of United Media Licensing from the E.W. Scripps Company (SSP). Iconix Brand Group, Inc. paid $175 million subject to a working capital adjustment.
United Media Licensing, which was a division of United Feature Syndicate, Inc., owned the license rights to the Peanuts brand of characters created by Charles M. Schulz, including Charlie Brown, Snoopy and other characters associated with the comic strip.
The Peanuts character brand is one of the most recognizable in the world, with 1200 current license agreements generating annual retail sales of $2 billion. Iconix Brand Group, Inc. also acquired the rights to several other character brands in the purchase, including Dilbert and Fancy Nancy.
Iconix Brand Group, Inc. said that United Media Licensing was purchased by Peanuts Worldwide LLC, a newly formed joint venture. The joint venture is 80% owned by Iconix Brand Group, Inc., and 20% owned by Charles M. Schulz Creative Associates. Charles M. Schulz Creative Associates is owned and managed by descendants of Charles M. Schulz. The company is headquartered in Santa Rosa, California.
For more information on the company, go to www.iconixbrand.com