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,.
Read more on thewrap.com
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