E.W. Scripps is selling the licensing rights to Peanuts, Snoopy, Dilbert and all the other characters in its United Media Licensing to Iconix Brand Group, Inc. for $175 million.
Iconix has formed a partnership with the family of Charles Schulz, whose creations represent the majority of United Media’s licensing business.
Iconix is buying 80 percent of United Media Licensing, while the Schulz family will retain ownership of the other 20 percent.
Scripps still owns United Media’s syndication operation and will continue to syndicate comic strips and editorial features marketed through United Feature Syndicate and Newspaper Enterprise Association.
Potentially big news from several news outlets, which are reporting that E.W. Scripps is considering selling off United Media Licensing, home to the Peanuts and Dilbert brands.
E.W. Scripps President and CEO Rich Boehne attempted to downplay the news while acknowledging that such announcements are often just first steps to sales. “We recognize that ‘exploring strategic options’ often is a euphemism for ‘sale,’ but this truly is an exercise to determine if these properties would be more valuable with another owner,” he said in a statement.
News of the possible sale, combined with strong fourth quarter results company-wide, sent Scripps stock up four percent this afternoon according to the Business Courier of Cincinnati, Scripps’ hometown. The traditionally-strong licensing business saw a 10 percent revenue decline in 2009 and a 15 percent decline in Q4, the Courier said.
If no sale was reached, Boehne pledged to “continue to nurture the characters as we have for decades.”
United Media’s global brand portfolio includes of Peanuts, Dilbert, and Raggedy Ann and Andy. It represents brands including Deadliest Catch, Dirty Dancing, and Fancy Nancy in the U.S. and Canada.
E.W. Scripps Mulls Selling ‘Peanuts,’ ‘Dilbert’ Character Licensing Business [E&P]
Scripps stock jumps on 4Q results, possible licensing unit sale [Business Courier of Cincinnati]
Brands [United Media Licensing]
