Kevin Mayer and Tom Staggs’ Candle Media have struck again, announcing the purchase ATTN, a social media storytelling company for Gen Z and Millennials.
Candle said today it will help provide scale, capital and expertise to accelerate ATTN’s growth as it continues “to create original content for Gen Z and Millennials across social media, network television and streaming services, in addition to growing their publishing, brand studio, creative strategy and agency services. That includes a TikTok Studio that supports brands and influencers.
The price wasn’t announced but is said to be about $100 million in cash and stock.
ATTN’s co-founders Matthew Segal and Jarrett Moreno, and its existing senior management team will continue to oversee day-to-day operations, original content, production and studio work.
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The transaction is expected to close within thirty days.
“ATTN: has a deep, digital-native understanding for how to cut through the noise and reach today’s audiences through engaging content on social media. We are excited for them to join Candle and provide the benefits of their talented team’s expertise across our brands and franchises,” Mayer and Staggs said.
“Partnering with Candle and their growing, talented team of creators will allow us to further this mission in a whole new way, accelerating our growth and reaching even more people with what we create,” said Segal and Moreno.
ATTN launched in 2014. It’s created original series for Facebook, Instagram, TikTok, YouTube and Twitch; networks ABC, NBC, CBS, MTV, Freeform and Discovery; and streaming services Hulu and Apple TV. Its brand studio and creative agency have worked with brands including Amazon, Ford, Google, Intel, Mattel, P&G, Target and T-Mobile.
Candle, backed by investment capital from funds managed by Blackstone’s flagship private equity business, has been snapping up content since it launched last year with deals for Reese Witherspoon’s Hello Sunshine, CoComelon producer Moonbug Entertainment, Fauda producer Faraway Productions, and a minority stake in Will Smith and Jada Pinkett’s Westbrook.
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