Ben Margot / AP

Iconix Brand Group Inc. is selling Snoopy's Peanuts brand to DHX Media Ltd. (think "Bob the Builder" and "Teletubbies") for $345 million, sending Iconix shares up Wednesday and DHX shares down in morning trading, per Reuters.

The deal: The $345 million is higher than analysts estimated, Forbes reports. 80 percent is going to DHX while 20 percent of the Peanuts brand will remain with the cartoon's creator's family (Charles Schulz passed in 2000), according to DHX.

Why it's happening: Iconix is swimming in about $1.3 million in debt. When MetLife Inc. announced late 2016 it was dropping the Peanuts characters as mascots after three decades of collaboration (the contract runs out in 2019), that certainly didn't help, and Iconix began looking into a sale soon after the parting.

Why it matters: As Axios' Dan Primack wrote in January: "You mean, beyond the fact that we're talking about Woodstock, Lucy, Linus and the whole gang being for sale? Let alone the Great Pumpkin? You need more than that? No. That's enough."

Go deeper

Dion Rabouin, author of Markets
19 mins ago - Economy & Business

Jerome Powell, Trump's re-election MVP

Photo illustration: Annelise Capossela/Axios. Getty Images photos: Andrew Caballero-Reynolds/AFP and Lev Radin/Pacific Press/LightRocket

President Trump trails Joe Biden in most polls, has generally lower approval ratings and is behind in trust on most issues. Yet polls consistently give him an edge on the economy, which remains a top priority among voters.

Why it matters: If Trump wins re-election, it will largely be because Americans see him as the force rallying a still-strong U.S. economy, a narrative girded by skyrocketing stock prices and consistently climbing U.S. home values — but the man behind booming U.S. asset prices is really Federal Reserve chair Jerome Powell.

49 mins ago - Health

Axios-Ipsos poll: Americans won't take Trump's word on vaccine

Data: Axios/Ipsos survey; Note: Margin of error for the total sample is ±3.2%; Chart: Axios Visuals

Barely two in 10 Americans would take a first-generation coronavirus vaccine if President Trump told them it was safe — one of several new measures of his sinking credibility in the latest wave of the Axios-Ipsos Coronavirus Index.

Details: Given eight scenarios and asked how likely they were to try the vaccine in each case, respondents said they'd be most inclined if their doctor vouched for its safety (62%), followed by insurance covering the full cost (56%) or the FDA saying it's safe (54%).

Dion Rabouin, author of Markets
49 mins ago - Economy & Business

Brookings fellow predicts reparations could happen in next 10 years

Thanks to growing momentum and changing attitudes among Americans, Brookings Institution fellow Andre Perry predicts that within 10 years the U.S. will provide some form of reparations to Black people.

What we're hearing: "What's happening in the streets today is indicative of the attitude change that is occurring in America," Perry, a scholar-in-residence at American University and author, said during our interview for "Axios on HBO."