A Blackstone-backed company led by former Disney executives Kevin Mayer and Tom Staggs is nearing a deal to acquire Moonbug Entertainment, which makes childrens shows for streaming services, at a valuation that could reach a little above $3 billion, according to people familiar with the situation.
The deal is not yet done and could still fall apart. But if completed, the acquisition would be the second major purchase for the Blackstone group, following its purchase of Reese Witherspoon’s Hello Sunshine production company at a $900 million valuation. News of the potential deal comes as Kevin Mayer’s other interests in entertainment grew: Discovery CEO David Zaslav revealed today on the company’s third quarter earnings call that Mayer would advise him on the integration of Discovery with WarnerMedia, a combination that is awaiting regulatory approval. Mayer is also chairman of sports streaming service Dazn, which is owned by billionaire Len Blavatnik.
