Reese Witherspoon’s production company, Hello Sunshine, which she founded in 2016, has been sold for $900 million, the Wall Street Journal reports. The buyer is a media company backed by the private-equity firm Blackstone Group Inc.
Witherspoon and Hello Sunshine CEO Sarah Harden will be joining the board of the company, helping to oversee operations and productions in the pipeline. The pair will also remain equity holders inHello Sunshine.
“Today marks a tremendous moment for Hello Sunshine,” said Witherspoon 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, impactful and illuminating stories about women’s lives globally.”
Hello Sunshine used to produce different productions under the name Pacific Standard, and has been behind movies including Wild, Gone Girl, and Lucy in the Sky. It also produced shows like Big Little Lies, The Morning Show, and Truth Be Told.
“We are thrilled to partner with Reese, Sarah, and the entire Hello Sunshine team,” said former Disney executives Kevin Mayer and Tom Staggs, who will both head the currently unnamed new media company. “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.”