Iconix Brand Group, Inc. (ICON) Closes on Purchase of Licensing Company
Iconix Brand Group, Inc. announced that it has closed on its purchase of United Media Licensing from the E.W. Scripps Company (SSP). Iconix Brand Group, Inc. paid $175 million subject to a working capital adjustment. United Media Licensing, which was a division of United Feature Syndicate, Inc., owned the license rights to the Peanuts brand of characters created by Charles M. Schulz, including Charlie Brown, Snoopy and other characters associated with the comic strip. The Peanuts character brand is one of the most recognizable in the world, with 1200 current license agreements generating annual retail sales of $2 billion. Iconix…