Blackstone-backed Candle Media acquires ATTN:


FILE PHOTO: Signage is seen outside Blackstone's headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly

(Reuters) - Blackstone-backed Candle Media Tuesday announced it is acquiring ATTN:, a media company best known for topical short-form videos targeting Gen Z and Millennials. The cash and stock deal is valued at $100 million, according to two sources.

Launched in 2014, ATTN:'s videos seek to deconstruct social issues and news stories for its audience, such as one video recorded by former California Governor Arnold Schwarzenegger denouncing Vladimir Putin's invasion of Ukraine. ATTN: also has worked with brands including Amazon, Ford, Google, Intel, Mattel, P&G, Target and T-Mobile.

“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," Candle Media Co-CEOs Kevin Mayer and Tom Staggs said in a statement announcing the deal.

Candle said it would help provide the financial backing and expertise to accelerate ATTN:'s growth across social media, television and on streaming services.

The transaction is the latest in a series of deals for Candle Media, including ones with Reese Witherspoon's Hello Sunshine and children's entertainment studio Moonbug Entertainment, creator of CoComelon preschool series on Netflix.

ATTN: founders Matthew Segal and Jarrett Moreno will continue to oversee day-to-day operations.

(Reporting by Dawn Chmielewski in New York; Editing by Tomasz Janowski)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Tech News

Russia's Killnet hacker group says it attacked Lithuania
Lithuania hit by cyber attack -government agency
Just Eat Takeaway increases European restaurant commissions by 1%
Digital World board members get subpoena over Trump's social media deal
Amid electric vehicle boom, US seeks to flood ‘charging deserts’
Online disinformation stokes tensions as Kenya elections near
Opinion: Do you unplug during vacations?
As China shuts out world, Internet access from abroad gets harder too
Keen to avoid losing money to scammers? Here’s what you can do
Jury finds US cable company must pay millions in damages after employee’s murder of female customer

Others Also Read