An April 28, 2010, Wall Street Journal article, "Iconix Acquires Peanuts Brand," noted that the Baker Hostetler team, led by New York partner Steven Goldberg, Co-Chairman of the firm's Transactions Practice Team, represented The E.W. Scripps Co. in a recent deal with Iconix Brand Group Inc.
According to the article, brand manager Iconix acquired the Peanuts brand from Scripps in partnership with the heirs of Charles Schulz, who created the comic strip featuring Snoopy and his owner, Charlie Brown. Iconix and the Schulz family will pay about $175 million for the brand, with Iconix controlling an 80 percent share. The deal includes the broader licensing business of the Scripps unit United Features Syndicate, which includes the cartoon character Dilbert, a hero to cynical office workers, and children's book heroine Fancy Nancy. Iconix expects Peanuts to generate roughly $75 million in annual royalties. The Schulz heirs will receive a portion of the revenue from the deal in addition to their minority stake in the new partnership, according to the article.