Candle Media
| Company type | Private |
|---|---|
| Founded | November 1, 2021 |
| Founders | Kevin A. Mayer and Thomas O. Staggs |
| Headquarters | , United States |
| Owners | Kevin Mayer & Tom Staggs |
| Subsidiaries | Moonbug Entertainment Hello Sunshine Faraway Road Productions ATTN: Exile Content Studio |
| Website | www |
Candle Media, LLC[1] is a Blackstone-backed, Los Angeles–based media company co-founded by former Disney executives Kevin A. Mayer and Thomas O. Staggs. Candle Media owns the companies Moonbug Entertainment, Hello Sunshine, and the production company of Israeli thriller series Fauda, Faraway Road Productions.[2] It also owned a minority stake in Westbrook Inc.
History
[edit]Before co-founding Candle Media in 2021,[3] Kevin Mayer and Tom Staggs originally led a blank-check company Forest Road Acquisition Corp.[2]
In August 2021, the company began acquiring content companies starting with Reese Witherspoon’s Hello Sunshine.[4] In November 2021, Candle Media acquired Moonbug Entertainment, a children’s entertainment company (formerly the film & television company founded in 1992 and separated in 2018 as remaining few contents and properties) that has produced shows including CoComelon and Blippi, for nearly $3 billion.[5] In January 2022, the company announced a strategic minority investment in Will Smith and Jada Pinkett Smith’s Westbrook.[6][7] In the same month, Candle Media also acquired Faraway Road Productions for an estimated $50 million.[8][9]
In May 2022, Candle Media acquired ATTN:, a social media storytelling company, for $100 million.[10] In the same month, the company also announced that it will acquire Exile Content Studio, a Spanish production studio. To date, Candle Media has spent approximately $4 billion on acquisition deals.[11][12] The company partnered with Cameo in December 2022 to launch a feature aimed at children that would allow users to share personalized videos of characters from popular children's shows such as CoComelon and Blippi.[13] In 2023, the company hired media executive James Goldston to oversee a new division developing nonfiction television and film productions.[14]
In June 2023, Candle Media entered into a strategic partnership with TikTok, which Mayer had previously served as CEO of. Under the partnership, the company will develop premium content with TikTok.[15] As part of this, Candle Media will develop film, television and audio productions based on works by authors in the BookTok community.[16]
In July 2024, Candle Media reorganized under two divisions. Its live action properties will be placed under Candle Studios, with current Hello Sunshine CEO Sarah Harden being named head of the new division.[17] Animation was folded into subsidiary Moonbug Entertainment.[18]
Subsidiaries
[edit]| Acquisition date | Subsidiary | Notes |
|---|---|---|
| August 2021[3][2] | Hello Sunshine | |
| November 2021[2] | Moonbug Entertainment | |
| January 5, 2022 | Westbrook Inc. | minority (10% stakes) |
| January 12, 2022 | Faraway Road Productions | |
| May 2022 | ATTN: | |
| Exile Content Studio | ||
| August 12, 2022 | Notables |
References
[edit]- ^ "Candle Media, LLC". Dun & Bradstreet. Retrieved April 20, 2024.
- ^ a b c d "Candle Media Enlists Key Executives Amid Hollywood Buying Spree". The Hollywood Reporter. January 13, 2022. Retrieved January 14, 2022.
- ^ a b "Candle Media confirms deal to buy 'Fauda' prodco Faraway Road". TBI. January 11, 2022. Retrieved January 15, 2022.
- ^ "Reese Witherspoon's Hello Sunshine to Be Sold to Media Company Backed by Blackstone". WSJ. August 2, 2021. Retrieved May 27, 2022.
- ^ "Moonbug Entertainment to Be Acquired by Next Generation Media Company Backed by Kevin Mayer, Tom Staggs and Blackstone". BusinessWire. November 4, 2021. Retrieved May 27, 2022.
- ^ "Westbrook Inc. Announces Strategic Minority Investment from Candle Media, Next-Generation Media Company Backed by Kevin Mayer, Tom Staggs, and Blackstone". Blackstone. January 4, 2021. Retrieved May 27, 2022.
- ^ "Kevin Mayer And Tom Staggs' Candle Media Takes $60 Million Minority Stake In Westbrook Inc". Tubefilter. January 5, 2022. Retrieved January 16, 2022.
- ^ "Candle Media Confirms Acquisition of 'Fauda' Production Banner Faraway Road Productions". Variety. January 12, 2022. Retrieved May 27, 2022.
- ^ "Candle Media acquires Israeli studio Faraway Road Productions". Broadcast Pro ME. January 12, 2022. Retrieved January 16, 2022.
- ^ Goldsmith, Jill (May 17, 2022). "Candle Media Acquires Gen Z Social Video Company ATTN". Deadline Hollywood.
- ^ "Kevin Mayer and Tom Staggs' Candle Media Acquires Spanish-Language Firm Exile Content Studio". Deadline. May 24, 2022. Retrieved May 27, 2022.
- ^ "Candle Media buys Exile Content Studio in Spanish-language push". Reuters. May 24, 2022.
- ^ Chmielewski, Dawn (December 8, 2022). "Cameo launches Cameo Kids personalized videos with Candle Media". Reuters. Retrieved July 23, 2023.
- ^ Spangler, Todd (February 21, 2023). "Candle Media Hires Ex-ABC News Chief James Goldston to Lead Nonfiction Studio". Variety. Retrieved July 23, 2023.
- ^ Weprin, Alex (June 20, 2023). "TikTok, Candle Media Ink Strategic Partnership, Will Co-Develop Content". The Hollywood Reporter. Retrieved July 23, 2023.
- ^ Carnevale, Robert (June 20, 2023). "TikTok to Get BookTok Boost From Candle Media Partnership". TheWrap. Retrieved July 23, 2023.
- ^ Hayes, Dade (July 2, 2024). "Candle Media Restructures, Folding Animation Into Moonbug As Hello Sunshine Chief Sarah Harden Takes Over Rebranded Studio – Update". Deadline. Retrieved July 4, 2024.
- ^ Smith, Ben; Hoffman, Liz (July 2, 2024). "Private equity's movie studio cuts back for a changed reality". Semafor.