Reese Witherspoon’s Hello Sunshine has been sold for a whopping $900 million USD.
The actress’ production company was bought by a media firm backed by the private-equity firm Blackstone Group Inc., Variety reported.
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, while remaining as significant equity holders, the publication stated.
Witherspoon launched Hello Sunshine back in 2016, with the company’s projects including the films “Gone Girl” and “Wild”, as well as hit TV shows such as “The Morning Show” and “Big Little Lies”.
The Wall Street Journal first published news of the huge sale, with Variety adding that the still-unnamed media venture by Blackstone will be run by former Disney executives Kevin Mayer and Tom Staggs.
Witherspoon said in a statement, “Today marks a tremendous moment for Hello Sunshine. 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.”
Mayer and Staggs added: “We are thrilled to partner with Reese, Sarah, and the entire Hello Sunshine team. 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.”
ET Canada has contacted Hello Sunshine for further comment.