Moonbug Entertainment, the digital-first, global children’s entertainment company, has announced that it has entered into a definitive agreement to be acquired by the recently formed media company run by leading entertainment executives Kevin Mayer and Tom Staggs and backed by investment capital from Blackstone. Moonbug’s founders CEO René Rechtman and COO John Robson, and existing management team and shareholders, will retain equity stakes in the Mayer-Staggs-Blackstone-backed media company.

Founded in 2018, Moonbug has rapidly built a global family audience through its highly popular shows such as CoComelon, Blippi, Little Baby Bum, and others. Its content appears in 27 languages on more than 100 platforms around the world such as YouTube, Netflix, Hulu, HBO, Amazon and Sky. Moonbug’s CoComelon is currently the second-most subscribed YouTube channel with approximately 120 million subscribers globally and the most-watched kids show on Netflix.

This marks the second acquisition for Mayer and Staggs’ new media company backed by Blackstone, following the acquisition of Hello Sunshine, the mission-driven media company that puts women at the centre of every story it creates, founded by Reese Witherspoon.

“John and I have built a category-leading, digital-first kids entertainment business based on strong values and content that is focused on digital platforms,” says Moonbug’s René Rechtman. “Our vision is to build global family franchises, which is wholly aligned with Kevin and Tom’s vision and experience. I have had the pleasure of working with them both earlier in my career and am thrilled to be reunited to build the next global powerhouse of entertainment. You could not find stronger partners in our industry.”

Kevin Mayer and Tom Staggs added: “We have known René and his innovative team for years, including during our time together at Disney, and they have built a perfect example of the type of category-defining business we are looking to bring into our company. They know how to identify and support brands that are beloved by millions of families across the globe. We and our partners at Blackstone look forward to helping expand Moonbug’s portfolio of titles and further extend its franchises across digital platforms and key licensing and merchandising channels.”