A Potential Sale Of Peanuts Would Raise Millions For Iconix

Licensing company Iconix Brand Group Inc is pursuing a potential sale of its majority stake in Peanuts Worldwide LLC, which controls the rights to beloved cartoon characters including Snoopy and Charlie Brown, according to sources cited by Reuters.

The deal would provide a much-needed cash injection for Iconix, which has seen licensing income decline since 2014; it reported a net loss of $189 million in 2015.

Peanuts has remained one of Iconix's most reliable brands, netting an estimated $95 million in revenue last year and comprising nearly a quarter of its $379 million (2015 sales) business. Sales were boosted by a 2015 movie immortalization of the gang, which grossed $246.2 million worldwide and prompted a lift in merchandise sales.


No dollar amount for the deal has been revealed, but a purchase price could near $300 million, according to analyst estimates. The cash raised would likely be used to pay off Iconix's debt, which tallied $1.29 billion last year.

Read the rest at Forbes

Knott's News: Peanuts may be changing ownership soon. What to think?