Classic IPs require modern infrastructure.

Japanese entertainment conglomerate Sony has secured majority control of the Peanuts franchise, paying WildBrain approx. US$457 million for its 41% stake in Peanuts Holdings LLC. The transaction, announced on 18 December 2025, elevates Sony’s existing 39% holding to 80%, leaving creator Charles M. Schulz’s family with 20%.

Consolidation of a Classic IP

This marks the culmination of a seven-year partnership that began when Sony Music Entertainment (Japan) first acquired a minority stake in 2018. The deal values the 75-year-old property – generating over $1 billion annually – at a significant premium and draws attention to a wider industry trend: major players consolidating control of evergreen intellectual property amid streaming wars and fragmented audiences.

For publishing professionals, the transaction’s structure is instructive. While Sony assumes operational control, WildBrain remains engaged as exclusive licensing agent across Europe, the Middle East, and Asia-Pacific, plus production studio for new content. This hybrid model – ownership transfer with retained strategic partnership – allows expertise continuity while providing capital for WildBrain to clear its debt and invest in wholly-owned franchises

The View From The Beach

Sony’s unified control across music, film, and gaming divisions creates unprecedented synergy potential. Peanuts Worldwide LLC, the wholly-owned subsidiary managing rights, now sits within a vertically integrated entertainment empire spanning PlayStation, Sony Pictures, and music distribution. For licensees and publishers, this centralisation promises streamlined approvals and coordinated global campaigns, though it may reduce negotiating flexibility previously possible with fragmented ownership.

The Schulz family’s retained stake serves as a creative safeguard, ensuring brand integrity – an arrangement that savvy rights-holders increasingly demand.

Digital-First Future for Traditional Properties

Here’s the thing: the deal reflects how legacy properties must evolve. WildBrain’s management expanded Peanuts’ digital footprint through Apple TV+ partnerships and YouTube growth, achieving record revenues in fiscal 2025.

WildBrain? A Canadian entertainment company specialising in children’s and family content that expanded Peanuts’ digital footprint with a) an Apple TV+ content partnership, b) YouTube channel management, generating over 1.7 trillion minutes of watch time, and c) launched Peanuts content across free ad-supported platforms.

For publishers, the message is clear:

The transaction, pending regulatory approval and expected to close in Q1 2026, signals that beloved characters are valuable – but only when backed by conglomerates capable of exploiting every platform simultaneously.

This post first appeared in the TNPS LinkedIn newsletter.