CINCINNATI, April 27 /PRNewswire-FirstCall/ -- Two months after launching a strategic review of its character licensing business, The E.W. Scripps Company (NYSE: SSP) has signed an agreement to sell United Media Licensing for $175 million to Iconix Brand Group, Inc. ( ICON).
In conjunction with this transaction, Iconix has formed a partnership with the family of the late Charles Schulz, who created the beloved Peanuts characters, which represent the majority of United Media's licensing business.
The all-cash transaction is expected to close by the end of the second quarter.
United Media Licensing is one of the largest independent licensing agencies in the world, representing brands and creative content in the development and management of licensed merchandise and promotional programs. United Media works with more than 1,250 licensees in approximately 40 countries. United Media-licensed merchandise generates annual retail sales of more than $2 billion, with nearly 20,000 new products approved each year. The majority of licensing revenue is generated by products associated with the characters of the Peanuts comic strip, which Scripps brought to market in 1950.
New York-based Iconix Brand Group, formerly known as Candie's, is a brand management company that engages in licensing and marketing for a portfolio of owned consumer brands, including Candie's, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin, Rocawear, Cannon, Royal
|SOURCE The E.W. Scripps Company|
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