Shares of Halifax-based entertainment company DHX Media (DHXM) - Get Report were declining by 4.6% to $4.15 on Wednesday morning, despite entering into a $345 million deal to add the Peanuts gang of cartoon characters to its portfolio of properties. The deal also includes the Strawberry Shortcake brand.
The Peanuts characters include Snoopy, Charlie Brown, Linus, Peppermint Patty, and Woodstock. Peanuts was a daily and Sunday American comic strip created by the late Charles Schulz that became an iconic part of American pop culture.
Schulz's widow Jean gave her okay on the deal as well, and the Schulz family will continue to have a 20% share of the rights to the cartoon. The deal was also approved by the boards of DXH and Iconix Brand (ICON) - Get Report , which owns 80% of the Peanuts brand and 100% of the Strawberry Shortcake brand.
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