Disney wins Winnie the Pooh

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Disney has landed rights to Winnie the Pooh for $350 million, The New York Times reports.

Disney originally bought the rights to the classic A.A. Milne character in the 1960s and has been paying bi-annual royalties to beneficiaries of Milne since then. The lump sum payment will secure rights to Winnie the Pooh through 2026, when the copyright expires.

The biggest beneficiary will be the Royal Literary Society, which will realize $132 million from the sale.

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