Candle Media's Kevin Mayer eyes exits for Moonbug and other brands
Why it matters: The strategy marks a departure from Candle's original plan and exemplifies growth potential for diversified individual brands versus holding companies.
What they're saying: "We had intended for Candle to be an integrated operating company with different audience verticals all approaching it in similar ways and it really hasn't happened," Mayer said at an Axios event on Tuesday in Cannes.
"We're now more or less ... three independent companies now that are operating in different ways," Mayer said.
Catch up quick: Candle's three core companies are Reese Witherspoon's Hello Sunshine, children's entertainment company Moonbug and social publisher ATTN.
Zoom in: Moonbug, which creates and distributes "CoComelon" and "Blippi," could grow to become a bigger IP holding company, be acquired by an entertainment or tech company, or pursue an IPO.
"It has the scale and the platform to extend itself to other audiences, older kids, teenagers. You can see taking the Moonbug model, YouTube-first and then multi-platform model, around that IP. We see that happening in a bunch of different verticals," Mayer said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
Deckers jumps as international demand for UGG, Hoka drives Q1 results beat
(Reuters) -Deckers Outdoor's shares surged 11% premarket on Friday after resilient demand for its sneakers and boots in international markets helped the Hoka parent beat first-quarter revenue and profit estimates. Strong demand for Hoka shoes and UGG boots in Europe and China helped shield Deckers from the impact of tariff-related concerns and sticky inflation on consumer spending in the United States, the company's largest market by revenue. "Coming off a spectacular fiscal 2025, Deckers faces uneven U.S. sportswear demand, higher tariffs on imports, and tough comparisons after strong Hoka wholesale sell-in last year. Yet, it is capitalizing on large international opportunities, and its brands remain popular," said Morningstar analyst David Swartz in a note. International market sales nearly doubled from last year, partly aided by the company opening its own stores in key markets. Shares of Roger Federer-backed On Holding also rose about 5% after Deckers' results. However, Deckers' U.S. sales growth for the quarter ended June slowed to 2.8% from about 11% reported last quarter, and the company refrained from providing full-year targets again, citing tariff-related uncertainty. Deckers sources most of its shoes from Vietnam, which has been hit with 20% tariffs by the U.S., which is expected to weigh on its margins in the second half of the year. The company's second-quarter sales target was largely in line with estimates, but its profit forecast was a tad below. Deckers' first-quarter results were strong, but the lack of visibility in fiscal 2026 and the increased tariff pressure remain a concern, said Telsey Advisory Group analyst Dana Telsey. German sportswear brand Puma said it now expects an annual loss as sales decline and U.S. tariffs dent profit, sending its shares 16% lower on Friday. Deckers' stock is trading at 16.13 times analysts' average estimate for the company's earnings for the next 12 months, compared with Nike's 34.85 and Puma's 18.86.
Yahoo
9 hours ago
- Yahoo
India expands its e-commerce crackdown with a new $200M case against Walmart's fashion arm Myntra
India's financial crime watchdog has filed a complaint against Walmart-backed fashion e-commerce giant Myntra, alleging the company violated foreign investment rules by channeling over $191 million through a related-party scheme that disguised retail operations as wholesale trade. This complaint marks the latest move in a broader crackdown by Indian authorities, which previously targeted Amazon and Flipkart. On Wednesday, the Enforcement Directorate said the Bengaluru-based fashion e-commerce firm violated the Foreign Exchange Management Act, known as FEMA, by engaging in multi-brand retail trading 'under the guise of wholesale cash and carry,' utilizing a related entity, Vector E-Commerce, as an intermediary to route retail sales through a wholesale structure. India restricts foreign companies engaged in wholesale business from making direct sales to consumers in an effort to protect local retailers. The law also limits sales to related group companies to a maximum of 25%. Myntra failed to meet the conditions for operating as a wholesale or cash-and-carry business, as all of its sales were made exclusively to Vector E-Commerce, the agency stated (PDF). The agency filed the complaint against Myntra, its related companies, and their directors under section 16(3) of the FEMA, 1999. Myntra controls around half of the country's overall fashion e-commerce market. The company is also gradually expanding its quick-commerce service and broadening its reach in high-growth categories, including home and living, as well as beauty. The company is also testing the waters in social commerce by partnering with celebrities and bringing on micro-influencers, taking on the likes of Instagram, YouTube, and Amazon's Live. The complaint comes as Indian officials hold talks with the Trump administration over a potential trade deal with the United States. The Modi government in New Delhi is reportedly under pressure from the Trump administration to grant Amazon and Walmart-owned Flipkart full access to its $125 billion e-commerce market. The Modi government has long been expected to release its e-commerce policy, but sources previously told TechCrunch that it has been on the back burner, as officials are cautious not to strain relations with the U.S. government. Nonetheless, Amazon and Flipkart have previously faced investigations by Indian agencies, including the Enforcement Directorate. One of the recent major actions against the two companies was reportedly a raid by the federal agency in November on the offices of some of their sellers, who are accused of violating the country's foreign investment rules. In April, the agency also privately sought sales data and other documents from smartphone vendors, including Apple and Xiaomi, as part of its probe into Amazon and Flipkart. Responding to the latest action, Myntra stated that it had not received a copy of the complaint and supporting documents from the authorities but remained 'fully committed to cooperating with them at any point of time.' 'At Myntra, we are deeply committed to upholding all applicable laws of the land and operating with the highest standards of compliance and integrity,' a company spokesperson said. Founded in 2007, Myntra was acquired by the Indian e-commerce giant Flipkart in 2014 and was later bought by Walmart as part of Flipkart's $1.6 billion acquisition in 2018. When contacted, a Walmart spokesperson pointed to the statement issued by Myntra. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 hours ago
- Yahoo
Why Blackstone Rallied Today
Key Points Blackstone delivered another solid revenue and earnings beat. The private equity giant rode a market recovery and steady inflows to achieve an AUM over $1.2 trillion. It's possible the Trump administration may open retirement accounts to private equity, which could add another boost. 10 stocks we like better than Blackstone › Shares of alternative investment giant Blackstone (NYSE: BX) rallied 4.5% today as of 2:06 p.m. ET. Blackstone reported second-quarter earnings today that came in well ahead of analyst estimates, as the world's largest private equity firm continues to be the gold standard in the alternative investment world. And a potential new opportunity to raise capital from retirement accounts is adding to the optimism. Blackstone continues to roll on In the second quarter, Blackstone's revenue grew 33% to $3.71 billion, while EPS grew a whopping 69% to $0.98, beating expectations. Of course, the markets recovered strongly during the second quarter, which boosted realizations and accrued performance revenues. Meanwhile, Blackstone continued to rake in more assets under management, with inflows totaling a whopping $52.1 billion, roughly consistent with prior three quarters. Total AUM grew to a stunning $1.21 trillion -- with a "T" -- up 12.4% relative to a year ago. Meanwhile, a significant portion of that AUM at around 15% is still in "dry powder," which isn't earning fees yet and can be redeployed opportunistically. President Trump wants to open 401(k) accounts to PE Blackstone shares rallied even over and above a recent rally spurred on by news reports that the Trump administration may issue an executive order that will allow private equity investments within 401(k)s and other retirement accounts. That could be a boon to private equity firms like Blackstone, although the PE giants will also have to be careful about the opportunity. On the conference call with analysts, current CEO Jonathan Gray said: I think we all need to be patient here. But as we've talked about in the past, we think this is compelling for individual investors today in the defined contributions world. The access to alternatives, both the returns and diversification benefits, So we would expect this is going to happen at some point over time... it's obviously more appropriate for somebody earlier in their, sort of lifespan as opposed to somebody just on the cusp of retirement. And so I think the target date funds where we'll see this initially take hold. Obviously, it's a very large market. And for us specifically, the fact that we have created scale perpetual products that have track records that can absorb large amounts of capital that is a real competitive advantage. While it appears all systems are a go for Blackstone, both in terms of recent investment performance and the prospect of more steady inflows and new sources of capital, much optimism is priced into the stock already, at 36.7 times this year's earnings estimates. Therefore, shares look like a hold for now, but perhaps not a buy until another market correction. Should you buy stock in Blackstone right now? Before you buy stock in Blackstone, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Blackstone wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $634,627!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,046,799!* Now, it's worth noting Stock Advisor's total average return is 1,037% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Billy Duberstein and/or his clients have positions in Blackstone. The Motley Fool has positions in and recommends Blackstone. The Motley Fool has a disclosure policy. Why Blackstone Rallied Today was originally published by The Motley Fool Sign in to access your portfolio
