Schulz Family’s Acquisition of the “Peanuts” Brand

On April 27, 2010, Cravath advised the Schulz family in connection with their acquisition, in partnership with Iconix Brand Group, Inc. (NASDAQ: ICON), of the “Peanuts” brand and related assets from United Features Syndicate, Inc. and The E.W. Scripps Company. The cast of Peanuts includes, among others, such iconic and well known characters as Charlie Brown, Snoopy, Lucy, Linus, Sally, Schroeder, Peppermint Patty and Woodstock. The Peanuts brand and other acquired assets will be purchased through a newly formed subsidiary, which will be owned 80% by Iconix and 20% by the Schulz family. The total purchase price for this acquisition is approximately $175 million.

The Cravath team includes partners Faiza J. Saeed, Thomas E. Dunn and associates Jonathan S. Benloulou and D. Gordon Cruess on corporate matters; partner Andrew W. Needham and associates Anne Kim and Mark E. Dundon on tax matters; and partner Eric W. Hilfers and associate G-Young Park on executive compensation and benefits matters.