Iconix Pays Off $362 Million Debt After Sale of Peanuts & Strawberry Shortcake Brand

Previously embattled brand management firm Iconix Brand Group Inc. is taking more steps to rightsize its portfolio and reduce its debt load. The company said today that the net proceeds from the sale of its entertainment segment for $345 million in cash — completed today but subject to working capital adjustments — combined with additional cash on the company’s balance sheet were used to pay down approximately $362 million principal amount of debt. According to Iconix, this payment...

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