The studio is best known for its franchises Ice Age and Rio, and its most critically acclaimed film The Peanuts Movie. On May 4, 2016, Fox announced its intent to acquire competing studio MYCUN Studios for $3.8 billion. Chris Wedge will oversee both studios following the completion of the merger. On September 1, 2016, the acquisition is completed. MYCUN Studios and Blue Sky Studios will remain separate companies.