Iconix Brand Group Inc., the parent company of ecko, Zoo York, Op, and Ed Hardy to name a few, announced today that they have purchased the Peanuts brand from E.W. Scripps “in partnership with the heirs of Charles Schulz,” for $175 million according to a story in the Wall Street Journal.
The Peanuts licenses generate annual retail sales of more than $2 billion world-wide, according to Iconix. “This asset is a dream for a marketer,” said Neil Cole, chief executive of Iconix, who said his favorite Peanuts character is Charlie Brown. . . “Neil and his team have great respect for who the Peanuts characters are and they honor all we have accomplished, and the spirit with which we do business,” said Jean Schulz, Mr. Schulz’s widow.
According to the story “Iconix expects Peanuts to generate roughly $75 million in annual royalties.” Apparently, newspapers companies are looking for revenue where ever they can find it. We can hardly wait for the Zoo York x Pig Pen collab decks. . .
[Link: The Wall Street Journal]
