Candle Media, the brand new media firm co-backed by former Disney execs, acquires Gen Z-focused ATTN: for $100M

Candle Media, the brand new media firm headed by former Disney execs, Kevin Mayer and Tom Staggs, has made one other acquisition — this time with an eye fixed on social storytelling and reaching a Gen Z to millennial viewers. The corporate introduced at present it should turn into the brand new proprietor of ATTN:, a media firm that makes use of leisure to debate topical points that assist clarify the world to a youthful viewers — significantly those that eat content material on social media.

Of be aware, ATTN: additionally launched its own TikTok studio final 12 months to offer manufacturing companies for manufacturers that needed to succeed in the TikTok person base. Purchasers on that effort have included large title manufacturers like Google, Madewell, MTV and even TikTok itself, which partnered with ATTN: to handle its personal “TikTok for Good” channel. That deal was not too long ago renewed for a second 12 months.

Candle defined its curiosity in ATTN: needed to do with the corporate’s means to successfully interact a social viewers.

“ATTN: has a deep, digital-native understanding for tips on how to lower by the noise and attain at present’s audiences by partaking content material on social media. We’re excited for them to affix Candle and supply the advantages of their proficient staff’s experience throughout our manufacturers and franchises,” learn an announcement by Candle co-CEOs, Mayer and Staggs.

Launched in 2014, ATTN: has created unique collection for Fb, Instagram, TikTok, YouTube and Twitch, along with networks ABC, NBC, CBS, MTV, Freeform and Discovery in addition to for streaming companies like Hulu and Apple TV. Its model studio and company have relationships with corporations like Amazon, Ford, Google, Intel, Mattel, P&G, Goal and T-Cellular.

The acquisition presents ATTN: scale, capital and experience to speed up its progress, Candle Media mentioned in a press launch. ATTN: co-founders Matthew Segal and Jarrett Moreno, together with the present senior administration staff, will proceed to supervise day-to-day operations, unique content material, manufacturing and studio work, the announcement mentioned.

Variety reports the deal for ATTN: is round $100 million in each money and inventory however might be price as much as $150 million with further earn-out provisions. Candle confirmed this determine to TechCrunch as properly.

Blackstone-backed, L.A.-based Candle Media was based with an eye fixed on aggregating manufacturers to construct an unbiased media operation — a rarity at a time when most media corporations are actually operating their very own streaming companies.

In an interview with Deadline, Mayer defined that Candle’s lack of a streamer was an necessary a part of its technique, because it believes demand for content material itself goes to develop “extraordinarily robustly” within the months forward.

After coming onto the scene final 12 months, the corporate has been making a number of high-profile acquisitions, together with that of youngsters content material firm and “CoComelon” proprietor Moonbug for $3 billion; “Fauda” maker Faraway Street Productions for somewhere south of $50 million; and Reese Witherspoon’s Hello Sunshine for around $900 million.

This 12 months, it additionally took a more than 10% stake in Will Smith and Jada Pinkett Smith’s media firm, Westbrook, and was mentioned to be in talks to acquire NFT company Notables.

Candle has also been hiring, having not too long ago added former UTA and Disney execs as its chief growth officer and CFO.

The corporate says it expects the deal for ATTN: to shut in about 30 days.

Up to date, 5/17/22, 5:06 PM ET with affirmation of deal worth. 

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