Reese Witherspoon prepares for Oscars (Image: Instagram)
Legally Blonde star Reese Witherspoon sold her media company, Hello Sunshine, to a new company backed by private equity firm Blackstone Group.
The terms of the transaction were not revealed, but according to The Wall Street Journal, the deal was worth about $900 million.
Hello Sunshine was founded by Whitherspoon in 2016. The actress, members of the existing senior management team and the CEO, Sarah Harden, will continue to supervise the company’s day-to-day operations.
Witherspoon and Harden will work as board members for the new company, which is run by entertainment executives Kevin Mayer and Tom Staggs.
Hello Sunshine’s main goal is to make women the focus of its stories The media company makes scripted and unscripted television series, feature films, animated series, podcasts, audio stories and digital series, including Big Little Lies, The Morning Show and Little Fires Everywhere. The company also owns Reese’s Book Club, with many of the club’s favorites turned into movies or short series.
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