Sony Group to make Snoopy's owner subsidiary

The Japanese entertainment giant will acquire some 41 pct of shares in Peanuts Holdings for 630 million Canadian dollars, bringing its stake in the U.S. company to 80 pct from about 39 pct. With the move, Sony Group aims to boost its character-related businesses.

The shares will be bought by Sony Music Entertainment (Japan) Inc. and Sony Pictures Entertainment Inc., a Sony U.S. film subsidiary, from Canadian firm WildBrain Ltd., which indirectly owns shares in Peanuts Holdings.

The other 20 pct will be kept by the family of Charles M. Schulz, the original creator of the comic strip Peanuts.

Peanuts Holdings will continue to hold the copyright and manage related operations.