May 10 DHX Media Ltd said it would buy
the entertainment division of Iconix Brand Group Inc,
including the Strawberry Shortcake brand and an 80 pct stake in
the Peanuts brand, for $345 million.
Reuters reported in January that Iconix was exploring a sale
of its majority stake in Peanuts Worldwide LLC, which owns the
rights to cartoon strip characters Snoopy and Charlie Brown.
The deal value will be financed through a combination of
cash on hand, new debt financing facility and a private
placement offering of subscription receipts exchangeable for
convertible debentures, DHX said.
DHX Media, which owns rights to popular children's
television shows including "Bob the Builder" and "Teletubbies",
said the deal would be 6 percent to 10 percent accretive to
earnings per share, on a pro forma basis.
(Reporting by Arathy S Nair in Bengaluru; Editing by Shounak