Reese Witherspoon’s Hello Sunshine Sold for $900 Million to Media Company Backed by Blackstone

Reese Witherspoon’s Hello Sunshine Sold for $900 Million to Media Company Backed by Blackstone
Reese Witherspoon’s Hello Sunshine has been sold for north of $900 million to a media company backed by the private-equity firm Blackstone Group Inc.

Witherspoon and Sarah Harden, Hello Sunshine’s CEO, will join the board of the new company and will continue to oversee day-to-day operations. They will also remain significant equity holders.

The Wall Street Journal first reported the news of Hello Sunshine’s sale. The still-unnamed media venture by Blackstone will be run by former Disney executives Kevin Mayer and Tom Staggs.

“Today marks a tremendous moment for Hello Sunshine,” Witherspoon said in a statement. “I started this company to change the way all women are seen in media. Over the past few years, we have watched our mission thrive through books, TV, film and social platforms. Today, we’re taking a huge step forward by partnering with Blackstone, which will enable us to tell even more entertaining,
See full article at Variety - Film News »

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