Reese Witherspoon selling her media firm
Hello Sunshine, the media company founded by American actress Reese Witherspoon, that aims to change the narrative for women, is selling itself to a newly formed media firm backed by private-equity giant Blackstone Group Inc.
The companies didn’t disclose the terms of the deal. According to The Wall Street Journal, the deal values Ms. Witherspoon’s company, which produced ‘Big Little Lies’ and ‘The Morning Show,’ at about $900 million.
The upcoming media venture Blackstone is backing will be run by former Walt Disney Co. executives Kevin Mayer and Tom Staggs. Hello Sunshine will be its first acquisition.
Reese Witherspoon’s media company recently courted various buyers, and while Apple was one of parties interested in buying it, the Cupertino company did not end up going through with the purchase. However, the two companies will continue to work together. Hello Sunshine is responsible for “The Morning Show” and it is involved in multiple upcoming Apple TV+ projects.
Founded by Reese Witherspoon, Hello Sunshine is a media company that aims to put women at the center of every story they create, celebrate and discover. “We tell stories we love–from big to small, funny to complex–all shining a light on where women are now and helping them chart a new path forward,” the company says.
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