Moonbug, Producer Of Netflix Hit ‘Cocomelon,’ Sold To Kevin Mayer & Tom Staggs

The media venture run by Disney alums Kevin Mayer and Tom Stags and backed by private equity firm Blackstone has acquired Moonbug Entertainment, maker of popular kids shows like CoComelon. The valuation of the deal, which had been rumored in recent weeks, was not specified in the official announcement, but people familiar with the transaction pegged it at $2.75 billion. With earn-out incentives, the final pricetag could reach $3 billion.