Iconix completes purchase of Snoopy biz

CINCINNATI

Newspaper publisher E.W. Scripps Co. has completed the sale of the licensing business that represents Snoopy, Charlie Brown and others to Iconix Brand Group Inc., the companies said Thursday.

Scripps brought the Peanuts comic strip to market in 1950. The company announced in April that it was selling licensing rights for the "Peanuts" gang, along with other character brands like Dilbert and Fancy Nancy to Iconix, the licensing company that owns Joe Boxer and London Fog, for $175 million.

Iconix will form a partnership with the family of Charles Schulz, creator of the Peanuts strip, which will receive 20 percent ownership in the unit that owns "Peanuts" and pay that percentage of the sale price.

Shares of Scripps fell 11 cents to close Thursday at $8.39 and shares of Iconix fell 3 cents to close at $16.33.