May 10 (Reuters) - DHX Media Ltd DHXb.TO said it would buy the entertainment division of Iconix Brand Group Inc ICON.O , including the Strawberry Shortcake brand and an 80 pct stake in the Peanuts brand, for $345 million.
Reuters reported in January that Iconix was exploring a sale of its majority stake in Peanuts Worldwide LLC, which owns the rights to cartoon strip characters Snoopy and Charlie Brown. deal value will be financed through a combination of cash on hand, new debt financing facility and a private placement offering of subscription receipts exchangeable for convertible debentures, DHX said. Media, which owns rights to popular children's television shows including "Bob the Builder" and "Teletubbies", said the deal would be 6 percent to 10 percent accretive to earnings per share, on a pro forma basis.