TOKYO: Snoopy may be joining Sony.
Japanese electronics maker Sony Corp.’s music unit said Monday that it is buying a stake in Peanuts Holdings, the company behind Snoopy and Charlie Brown.
Sony Music Entertainment signed a deal with DHX Media, based in Nova Scotia, Canada, to acquire 49 percent of the 80 percent stake DHX holds in Peanuts.
Under the deal, Sony Music will own 39 percent and DHX 41 percent. The family members of Charles Schulz, the creator of Peanuts, will continue to own 20 percent of Peanuts. The parties hope to complete the acquisition on or about June 30, according to Tokyo-based Sony.
DHX is a leading children’s content and brand company, known for Strawberry Shortcake as well as producing children’s shows, in addition to Peanuts.
Sony said it sees Peanuts as “world-class,” and hopes to use its character business expertise to strengthen the brand and push the business to grow.
Sony has a range of characters under its wings, including those from its PlayStation video games. Its film division makes the Spider-man movie series.
Snoopy and other Peanuts characters are extremely popular in Japan, featured in a variety of everyday goods from T-shirts to plastic chopsticks.
The comic series was translated into Japanese decades ago, becoming an instant hit.
Peanuts began as a comic, first published in American newspapers in 1950. It’s now carried in 2,200 newspapers around the world in 21 languages. In 2020, it will celebrate its 70th anniversary. Schultz, who used to say that all he wanted to do was to “draw funny pictures,” died in 2000.
The popularity of Peanuts was stems partly from its ability to connect with a wide audience through its poetic portrayal of a children’s world, exploring with sensitivity and humor themes such as failure, heartbreak and pursuit of music.
Snoopy joining Sony? Music unit buying stake in Peanuts
Snoopy joining Sony? Music unit buying stake in Peanuts
Stc Group issues US dollar-denominated sukuk with a total value of $2bn
RIYADH: Stc Group has issued US dollar-denominated sukuk with a total value of $2 billion across two tranches.
The group clarified that the issuance included the offering of $750 million in sukuk with a 5-year maturity at a yield of US Treasury plus 75 basis points, and an issuance of $1.250 billion with a 10-year maturity at a yield of UST plus 90 basis points, according to the Saudi Press Agency.
It noted that the total order book exceeded $8 billion across both tranches, with a coverage rate exceeding 4 times, and participation from over 300 investors in the subscription.
The issuance garnered strong demand from a broad and diverse base of international investors, reflecting solid confidence in the robustness and efficiency of stc Group’s business model and strategy.
This strategy is aimed at strengthening its digital leadership, seizing infrastructure opportunities, enabling massive projects, and contributing to the realization of Vision 2030 objectives, with a focus on achieving sustainable growth based on operational efficiency and maximizing shareholder value.
This issuance enhances stc Group’s access to international capital markets and solidifies investor confidence in the strength of its credit position.
It also supports its strategic role in accelerating the pace of digital transformation in the Kingdom and building a thriving digital economy.
