Actress Reese Witherspoon has just sold her five-year-old media company Hello Sunshine for $900 million and according to the Wall Street Journal, the buyer is a media company backed by the private equity firm – Blackstone Group Inc.
Witherspoon in a statement as per Complex, “today marks a tremendous moment for Hello Sunshine.” She further said, “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, impactful, and illuminating stories about women’s lives globally.”
Hello Sunshine centers on stories by and for women. The company has produced films such as Gone Girl and Wild and TV shows including HBO’s Big Little Lies, Apple’s The Morning Show, and Hulu’s Little Fires Everywhere. “I’m going to double down on that mission to hire more female creators from all walks of life and showcase their experiences,” Witherspoon said in a statement as per Vanity Fair. “This is a meaningful move in the world because it really means that women’s stories matter.”
The yet-to-be-named media venture Blackstone will be run by former Walt Disney Co. executives Kevin Mayer and Tom Staggs. They said in a statement as per Complex, “We are thrilled to partner with Reese, Sarah, and the entire Hello Sunshine team.” They also said, “Hello Sunshine is a perfect fit for our vision of a new, next-generation entertainment, technology, and commerce company. We seek to empower creators with innovation, capital, and scale to inspire, entertain, and delight global audiences with engaging content, experiences, and products. Our platform will foster a uniquely creator-friendly culture that gives elite talent the resources they need to create and capitalize on their best, most inventive work. We look forward to backing Reese, Sarah, and their world-class team as they continue to produce and identify dynamic, engaging content for years to come.”
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