Screentime
Studio Behind ‘Cocomelon’ Acquired in $3 Billion Deal
- Ex-Disney executives Mayer, Staggs buy Moonbug Entertainment
- Company supplies children’s programming on YouTube, Netflix
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Moonbug Entertainment Ltd., the company behind the popular YouTube children’s channels Cocomelon and Blippi, agreed to be acquired by two former Walt Disney Co. executives in a deal valued at around $3 billion.
Kevin Mayer and Tom Staggs, who were each in line to lead Disney at one time, said in an interview Thursday they are financing the deal with money from Blackstone Inc. and debt. They previously teamed with the private equity firm to buy Hello Sunshine, the production company founded by actress Reese Witherspoon.