Reese Witherspoon is selling her media company, Hello Sunshine, to a new venture that’s backed by private-equity firm Blackstone Group Inc., per a Wall Street Journal report.
Terms of the deal were not disclosed.
WSJ said people familiar with the matter valued the company at approximately $900 million.
Witherspoon and Hello Sunshine CEO Sarah Harden will continue to run Hello Sunshine and will join the board of the new company, which will be led by former Disney executives Kevin Mayer and Tom Staggs, WSJ reported.
Hello Sunshine produced HBO’s “Big Little Lies,” as well as” The Morning Show” on Apple TV+, starring Witherspoon along with Jennifer Aniston and Steve Carell, and “Little Fires Everywhere,” a miniseries on Hulu starring Witherspoon and Kerry Washington, who also executive produced the series.
Witherspoon’s partners in Hello Sunshine include her husband, Jim Toth, and Seth Rodsky.
AT&T Inc. also has a stake, as does the company’s management team.
Witherspoon’s popular book club also falls under the Hello Sunshine umbrella, as well as podcasts and video segments.
