Blackstone-backed Candle Media, a next generation media company, agreed to acquire Moonbug Entertainment, a global children’s entertainment company, for $2.75bn. “John and I have built a category-leading, digital-first kids entertainment business based on strong values and content that is focused on digital platforms. Our vision is to build global family franchises, which is wholly aligned with Kevin and Tom’s vision and experience. I have had the pleasure of working with them both earlier in my career and am thrilled to be reunited to build the next global powerhouse of entertainment. You could not find stronger partners in our industry," René Rechtman, Moonbug Co-Founder and CEO.