US brand management company Iconix Brand Group Inc is exploring a sale of its majority stake in Peanuts Worldwide LLC, which owns the rights to cartoon strip characters Snoopy and Charlie Brown, according to people familiar with the matter. The move comes three months after US insurance company MetLife Inc dropped the Peanuts characters it had been using as mascots for more than 30 years – a blow to debt-burdened Iconix. The characters, which include Lucy, Peppermint Patty and Pigpen, attracted the interest of Chinese companies as well as other investors keen to snap up US media and licensing assets, the people said this week. Created by Charles Schulz and licensed in over 100 countries, the characters generate about $30 million in 12-month earnings before interest, taxes, depreciation and amortisation, the people added. They declined to comment on the expected deal valuation. Besides Peanuts, Iconix is also looking to sell its Strawberry Shortcake brand, which is based on a character that rose to fame in the 1980s as a doll for young girls, the people said. They asked not to be identified because the matter is confidential. The New York-based company is working with investment...
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