New Delhi, Dec. 19 -- Sony Group has agreed to buy a controlling interest in the Peanuts franchise in a deal worth about $457 million.

The Japanese entertainment giant will acquire an additional 41 per cent stake in Peanuts Holdings LLC from Canadian children's media company WildBrain Ltd.

This will give Sony an overall 80 per cent share in the company that manages the characters and rights to Peanuts worldwide, according to the companies. The Schulz family will retain the remaining 20 per cent ownership.

Under the arrangement, Sony Music Entertainment (Japan) and Sony Pictures Entertainment will jointly purchase WildBrain's equity in Peanuts Holdings LLC for roughly CAN $630 million ($457 million).

The deal remains subject to customa...