• Source: Candle Media

Candle Media, LLC 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. It also owned a minority stake in Westbrook Inc.




History


Before co-founding Candle Media in 2021, Kevin Mayer and Tom Staggs originally led a blank-check company Forest Road Acquisition Corp.
In August 2021, the company began acquiring content companies starting with Reese Witherspoon’s Hello Sunshine. 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. In January 2022, the company announced a strategic minority investment in Will Smith and Jada Pinkett Smith’s Westbrook. In the same month, Candle Media also acquired Faraway Road Productions for an estimated $50 million.
In May 2022, Candle Media acquired ATTN:, a social media storytelling company, for $100 million. 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. 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. In 2023, the company hired media executive James Goldston to oversee a new division developing nonfiction television and film productions.
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. As part of this, Candle Media will develop film, television and audio productions based on works by authors in the BookTok community.
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. Animation was folded into subsidiary Moonbug Entertainment.




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References

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