Candle Media
| Company type | Private |
|---|---|
| Industry | Media |
| Founded | 2021 |
| Founder | Kevin A. Mayer, Thomas O. Staggs |
| Headquarters | Los Angeles , United States |
Area served | Worldwide |
Key people | Sarah Harden (CEO, Candle Studios), James Goldston (media executive) |
| Products | Media content, production companies |
| Owner | Blackstone Inc. (financial support) |
Candle Media, LLC is a media enterprise headquartered in Los Angeles, United States. It receives financial support from the investment firm Blackstone Inc. and was established by former Disney executives Kevin A. Mayer and Thomas O. Staggs. The company’s portfolio includes ownership of entities such as Moonbug Entertainment, Hello Sunshine, and Faraway Road Productions, the Israeli production company behind the thriller series Fauda. Additionally, Candle Media maintained a minority interest in Westbrook Inc..
History
Prior to launching Candle Media in 2021, Mayer and Staggs were at the helm of the special purpose acquisition company Forest Road Acquisition Corp.
Candle Media initiated its content acquisitions in August 2021 by purchasing Reese Witherspoon’s Hello Sunshine. Following this, in November 2021, it secured children’s entertainment company Moonbug Entertainment, known for properties like CoComelon and Blippi, in a deal valued close to $3 billion. In January 2022, the firm made a strategic minority investment in Will Smith and Jada Pinkett Smith’s Westbrook while also acquiring Faraway Road Productions for approximately $50 million.
In May 2022, Candle Media expanded its portfolio by acquiring social media storytelling platform ATTN: for $100 million and announced intentions to acquire the Spanish production company Exile Content Studio. To date, total expenditure on acquisitions has reached around $4 billion. Later that year, in December 2022, Candle Media collaborated with Cameo to introduce personalized videos featuring characters from well-known children’s programs.
In 2023, the company appointed media executive James Goldston to oversee a newly formed nonfiction television and film division. By June 2023, Candle Media forged a strategic alliance with TikTok, aiming to produce premium content across film, television, and audio formats inspired by creations from the BookTok community.
As of July 2024, Candle Media restructured into two main units: live-action content was grouped under Candle Studios with Hello Sunshine CEO Sarah Harden at the helm, while all animation assets were consolidated within Moonbug Entertainment.
Subsidiaries
| Acquisition date | Subsidiary | Notes |
|---|---|---|
| August 2021 | Hello Sunshine | |
| November 2021 | Moonbug Entertainment | |
| January 5, 2022 | Westbrook Inc. | minority stake (10%) |
| January 12, 2022 | Faraway Road Productions | |
| May 2022 | ATTN: | |
| Exile Content Studio | ||
| August 12, 2022 | Notables |