Kevin Mayer & Tom Staggs’ Candle Invests in Westbrook

Candle Media, run by Kevin Mayer and Tom Staggs and backed by investment capital from Blackstone, has made a minority investment in Westbrook, the media company founded by Jada Pinkett Smith, Will Smith, Miguel Melendez and Ko Yada.

Mayer and Staggs said: “We are thrilled to back Will and Jada and for the opportunity to work with Westbrook’s CEO Ko Yada and the rest of their incredibly talented team. They have established Westbrook as a home for world-class creators that is built for the digital age, which fully aligns with our company’s vision for the future of media. We are excited for what we can all achieve together with Blackstone in the years ahead.”

Joe Baratta, global head of private equity at Blackstone, and David Kestnbaum, a senior managing director at Blackstone, said: “Will, Jada, and Westbrook have a deep firsthand understanding of today’s evolving entertainment content and social media environment and how to create high-quality, engaging content that spans platforms, genres and geographies. We look forward to helping accelerate the company’s growth as they continue to build a next-generation leader in global entertainment.”

Jada Pinkett Smith and Will Smith commented: “Westbrook is the realization of our dream to give artists from all backgrounds equal opportunities to pursue their creative visions and share their stories. We are pleased to join forces with Kevin, Tom and Blackstone to accelerate this mission by growing our content pipeline, our talent network, and our global expansion plans.”

Yada, CEO of Westbrook, said: “When we launched Westbrook just two and a half years ago, our mission was to empower artists to connect the world, and we do that through the independent infrastructure we’re building. We started with a focus on premium content across all platforms in a way that would bring creators, artists, brands and global audiences together. As we look to the next phase of the company, Kevin, Tom and Blackstone are ideal strategic partners. We look forward to this new relationship, building out more infrastructure and working with more artists to help tell stories that connect.”

Westbrook was formed to execute the Smiths’ vision to improve as many lives as possible through storytelling. The parent company provides strategic, financial, legal and operational support to its studio and media companies and develops new business opportunities for revenue growth and diversification. Westbrook houses Westbrook Studios, a film and television studio; Westbrook Media, an integrated IP incubator, brand content studio and production company; Red Table Talk Productions, behind the Emmy Award-winning Facebook Watch show Red Table Talk and Red Table Talk: The Estefans; and Good Goods, a direct-to-consumer business that creates consumer products around the company’s IP and talent partners.

The Mayer-Staggs-Blackstone-backed Candle has investments in Hello Sunshine, founded by Reese Witherspoon; and Moonbug Entertainment, behind popular shows such as CoComelon, Blippi and Little Baby Bum.