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Reese Witherspoon's media firm to be sold to Blackstone-backed company

Hello Sunshine, the media venture founded by Academy award-winning actress Reese Witherspoon, said on Monday it would be bought by a Blackstone Group Inc-backed firm.

Reese Witherspoon's media firm to be sold to Blackstone-backed company

FILE PHOTO: Reese Witherspoon arrives to the Oscars red carpet for the 93rd Academy Awards in Los Angeles, California, U.S., April 25, 2021. Chris Pizzello/Pool via REUTERS

REUTERS -Academy award-winning actress Reese Witherspoon's media venture, Hello Sunshine, said on Monday it would be bought by a newly formed Blackstone Group Inc-backed media firm for an undisclosed amount.

The new company is also backed by former Disney executives Kevin Mayer and Tom Staggs.

Founded in 2016, Hello Sunshine's productions include "Big Little Lies," "The Morning Show" and “Little Fires Everywhere.”

Its existing investors include AT&T Inc, Emerson Collective, Strand Equity's Seth Rodsky and Jim Toth.

Witherspoon and Chief Executive Officer Sarah Harden, who will join the board of the new media company, will continue to oversee the day-to-day operations of Hello Sunshine.

(Reporting by Niket Nishant in Bengaluru; Editing by Aditya Soni)

Source: Reuters

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