Candle Media Trims Costs, Reorganizes Divisions Amid Streaming Spending Pullback ...Middle East

Candle Media, the entertainment company backed by private equity giant Blackstone and headed up by former Disney executives Kevin Mayer and Tom Staggs, is reorganizing around two divisions, The Hollywood Reporter has confirmed. The internal changes at Candle Media, first reported on by Semafor on Tuesday, will see animated series folded into the company’s children’s media company Moonbug Entertainment, which launched in 2018. Moonbug, which was acquired by Candle Media in 2021, creates and distributes Cocomelon and the series Blippi.  A second division, Candle Studios, to encompass live action content, will be led by Hello Sunshine CEO Sarah Harden. The company acquired Reese Withers

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