Candle Media reorganises live-action assets under Studios arm led by Sarah Harden

Candle Media, the media investment company led by Disney executives Kevin Mayer and Tom Staggs, is reorganising its live-action assets under a new Candle Studios banner as it rejigs its operations to contend with the industry-wide spending contraction.

Sarah Harden

The Blackstone-backed entity, which is the parent of Reese Witherspoon’s Hello Sunshine, Spanish-language studio Exile Content, Israeli prodco Faraway Productions and non-fiction banner Candle True Stories, is placing those companies under the unified Candle Studios banner.

Hello Sunshine CEO Sarah Harden has been named CEO of Candle Studios and will also retain her existing role at the prodco behind The Morning Show.

Candle Media said the new operating unit would share resources including business affairs, legal affairs, production services, facilities and equipment. Candle Studios will also have a “coordinated sales and distribution process, targeting both domestic and international buyers,” said the company.

Across its various entities, Candle Studios is producing more than 30 projects in 2024, including Hello Sunshine series The Morning Show, The Last Thing He Told Me and Surface, all for Apple TV+. Meanwhile, Exile Content has the second season of Vgly (Max) on the go, while Candle True Stories will release season two of Crime Nation (The CW) and Faraway Road is in development on season five of Fauda, in addition to a feature film and other projects.

Candle Media’s kids businesses will all be housed under Moonbug Entertainment, which it acquired for around US$3bn in 2021.

Co-CEOs Mayer and Staggs said in a joint statement: “We are excited to announce that in order to continue to drive and enhance the collaboration and synergies that are core to Candle’s vision, mission and culture, we have organised our live-action, premium content capabilities into a newly formed Candle Studios division, which will be led by the incomparable Sarah Harden, who will serve as its CEO.

“This will bring all of our live-action properties into one division, with each benefiting from a go-to-market strategy and shared resources, while retaining their unique brand identity, audience profiles and day-to-day creative and business leadership.”

Harden added: “I’m thrilled to take on an expanded role within Candle Media, supporting the growth of these incredible business units and identifying new avenues for growth.”