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Candle Media has hired Raine Group to advise on a possible sale of social publisher ATTN:, two sources confirmed to Axios. The news was first reported by Puck.

Why it matters: This could be either a one-off deal or lead to other suitors eyeing additional assets from the Blackstone-backed media holding company.

Zoom in: ATTN: has performed well under Candle. It's more profitable and bigger than when it was bought, one of the sources added.

Founded in 2014, ATTN: produces short-form news and entertainment content aimed at Gen Z and millennial audiences, centered around social issues.

Catch up quick: Candle Media, led by ex-Disney veterans Tom Staggs and Kevin Mayer, made multiple splashes when it bought a slew of production companies and star-driven outfits in 2021-22.

Candle bought ATTN: in 2022 for $100 million in cash and stock, with a total deal value of $150 million with payouts.

That deal followed high-profile acquisitions of Reese Witherspoon's Hello Sunshine and "CoComelon" studio Moonbug.

But since those deals, streamers and other Hollywood studios have dramatically scaled back their content spending. That has made star-driven entities like Hello Sunshine struggle to live up to the lofty valuations when they were bought.

Candle Media puts social publisher ATTN: up for sale

The Blackstone-backed group bought ATTN: in 2022 for $100 million.

Kevin Mayer, Co-Founder and Co-CEO, Candle Media and Thomas O. Staggs, Co-Founder and Co-CEO, Candle Media speak onstage at the Headliner Conversation during the Variety Entertainment Summit at CES at the Aria Resort & Casino on January 06, 2023

Candle Media co-founders Kevin Mayer and Tom Staggs. Photo: Greg Doherty/Variety via Getty Images

Candle Media has hired Raine Group to advise on a possible sale of social publisher ATTN:, two sources confirmed to Axios. The news was <a class="gtmContentClick" data-vars-link-text="first reported" data-vars-click-url="https://puck.news/kevin-mayer-tom-staggs-want-to-downsize/" data-vars-content-id="4a1acf77-1965-4f29-b2ea-d8298f3f9cd0" data-vars-headline="Candle Media puts social publisher ATTN: up for sale" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://puck.news/kevin-mayer-tom-staggs-want-to-downsize/" target="_blank">first reported</a> by Puck.Why it matters: This could be either a one-off deal or lead to other suitors eyeing additional assets from the Blackstone-backed media holding company.

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Candle Media puts social publisher ATTN: up for sale

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