Kevin Mayer Tom Staggs René Rechtman Moonbug Entertainment show Digital and Company Kevin Mayer Tom Staggs René Rechtman Moonbug Entertainment

‘CoComelon’ Creator Moonbug Sold to Kevin Mayer and Tom Staggs’ Media Company for $3 Billion

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thewrap.com

Kevin Mayer and Tom Staggs’ Blackstone-backed company has bought Moonbug Entertainment, producer of he popular Netflix children’s program “CoComelon,” it was announced Thursday.

The deal values the company for as much as $3 billion, an individual with knowledge of the deal previously told TheWrap.Moonbug’s founders CEO René Rechtman and COO John Robson, and existing management team and shareholders, will retain equity stakes in the still-unnamed Mayer-Staggs company, Moonbug said in a statement.The deal adds to the two former Disney executives’ portfolio that also includes Reese Witherspoon’s production company Hello Sunshine, which was valued at $900 million.Moonbug’s animated series “CoComelon” is one of Netflix’s most popular shows,.

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