Resounding deal for Reese Witherspoon. As reported by the Wall Street Journal, the American actress, winner of the Oscar for Best Actor in 2006 for her rehearsal in When Love Burns the Soul - Walk the Line, has sold her production company Hello Sunshine to the Blackstone private equity fund, for approximately $ 900 million. The fund will pay 500 of these 900 million in cash to take over the shares of other investors, such as AT&T ed Emerson Collective. Since its founding, Hello Sunshine has produced some of the biggest serial hits of recent years, including Big Little Lies, The Morning Show and Little Fires Everywhere.
Reese Witherspoon: the future of her production company
In a statement reported by Variety, Reese Witherspoon commented on the deal:
Today is an extraordinary day for Hello Sunshine. I started this company to change the way all women are seen in the media. In recent years, we've seen our mission thrive across books, TV, movies, and social media platforms. Today, we are taking a huge step forward by partnering with Blackstone, which will allow us to tell even more fun, impactful and enlightening stories about women's lives globally.
Reese Witherspoon and Sarah Harden, CEO of Hello Sunshine, will join the board of directors of the new company and will continue to oversee day-to-day operations. They will also remain shareholders with significant stakes. Blackstone's as-yet-unnamed media venture will be run by former Disney executives Kevin Mayer and Tom Staggs, who commented on the news:
We are thrilled to partner with Reese, Sarah and the entire Hello Sunshine team. Hello Sunshine fits perfectly with our vision of a next-generation entertainment, technology and commerce company. We seek to provide creatives with the innovation, capital and scalability to inspire, entertain and delight the global audience with engaging content, experiences and products. Our platform will foster a unique, creative-friendly culture that will give top talent the resources they need to create and capitalize on their best work. We look forward to supporting Reese, Sarah and their world-class team as they continue to produce and identify dynamic and engaging content for years to come.
TagsHello Sunshine Reese Witherspoon sells her Hello Sunshine for $ 900 million
