London, Apr 28 (ANI): EW Scripps Co. has confirmed that it is selling its unit that owns the licensing rights to Snoopy, Charlie Brown and the rest of the "Peanuts" gang for 175 million dollars to Joe Boxer owner Iconix Brand Group Inc.
Scripps first brought the strip to market in 1950, reports The Telegraph.
The sale implies that Iconix has a new partnership with the family of the late "Peanuts" creator, Charles Schulz.
They'll receive 20 per cent ownership in the unit that owns "Peanuts" and pay that percentage of the sale price.
"The Peanuts characters have been our entertaining co-workers and the Schulz family has been our trusted partner for nearly 60 years. But this is the right move for all involved as we go our separate ways in recognition of changing times and new strategies," said Scripps CEO Rich Boehne. (ANI)