Candle Media to acquire Exile Content Studio
Candle Media, the new media rollup company backed by Blackstone and led by former Disney executives Tom Staggs and Kevin Mayer, is acquiring Exile Content Studio, an independent Spanish-language production company.
Why it matters: The deal gives Candle access to premium Spanish content. Exile is one of the fastest-growing Spanish language production studios in the world.
- In an interview with The New York Times, Staggs said he thinks the deal "can open up new opportunities for us with creators that we might not otherwise reach."
Details: The company was created in 2018 by former Univision and Televisa Chief Content Officer Isaac Lee and several of his former colleagues.
- The deal is a full acquisition, sources told Axios. Candle bought all of Exile's existing investors in a cash and stock deal, including David Bonderman, Exile's lead investor.
- Exile's management team will stay on to run the company's day-to-day operations.
- Lee will lead Exile under its new ownership, and will oversee all Spanish language content across film, TV, music, podcasts, ecommerce and web3 projects.
The big picture: Exile has produced content across an array of platforms, including Netflix, HBO and iHeartMedia and it's currently working on a series for Peacock.
- It has arms dedicated to music, kids and family-friendly franchises. The company is headquartered in L.A., but also has offices in Mexico City, Madrid, and Miami.
What they're saying: "Isaac's vision for the future of media and his knowledge of the Hispanic market was key for us to get involved," said Daniel Sillman, CEO of Relevent Sports and an investor in Exile.
- "What he’s built with Exile, now with the backing of Candle Media, will continue to drive growth with a key demographic that’s it’s highly sought after by all media companies and streaming services alike."