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Sony is buying an additional 41 percent stake in Peanuts. It has owned 39 percent of the franchise since 2018.

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Sony is taking control of the beloved comic strip Peanuts. The company is buying a 41% stake from Canadian owner WildBrain ...

The deal announced Friday, increases Sony’s stake to a whopping 80%, and it values the business at more than $1 billion.

Sony will pay CAN $630 million to WildBrain for the 41% stake, or roughly $457 million. The closing of the transaction is subject to certain closing conditions, including regulatory approvals.