An April 27, 2010, article, "Iconix Brands Buys Peanuts," which appeared in the MiddleMarket publication Mergers & Acquisitions, 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, Iconix, the listed, New York-based brand holding company, bought the Peanuts characters created by cartoonist Charles M. Schulz in a partnership with the famous Snoopy creator's family in a $175 million deal. The Peanuts brand will be owned 80% by Iconix and 20% by the Schulz family.
Scripps sold the cartoon's assets to Iconix, which will no doubt look to integrate the seemingly timeless cast of characters into its already-robust lines of clothing and capitalize on their entertainment and advertising value as well. The Peanuts brand is licensed in over 40 countries and generates more than $2 billion in revenue annually, according to the article.