Reese Witherspoon's media business, Hello Sunshine, is selling itself to a firm backed by private-equity giant Blackstone Group Inc., the companies said, part of a plan to build an independent entertainment company for Hollywood's streaming era.
Actress Reese Witherspoon said selling Hello Sunshine will allow the company to tell more female-led stories and to hire more female filmmakers. A Blackstone Group-backed venture bought a majority stake in Hello Sunshine.
Reese Witherspoon's media company, Hello Sunshine (Little Fires Everywhere), has been sold to a firm backed by private-equity giant Blackstone Group. Terms are not disclosed. According to the WSJ, which first reported the deal, it values the company at about $900 million.
Engagement means more subscribers, which means more recurring revenue, which means streamers want more content produced by Hello Sunshine. Given this, that $900 million price tag for Hello Sunshine makes a lot more sense. Now accepting applications for Most Innovative Companies.
Reese Witherspoon sells majority stake in Hello Sunshine to former Disney execs, Blackstone for $900 million. Reese Witherspoon's production company Hello Sunshine has produced shows like the HBO drama “Big Little Lies” and the Apple TV+ series “The Morning Show.”
Changing the Narrative for Women Blackstone’s Investment in Reese Witherspoon’s Hello Sunshine
Does Reese still own Hello Sunshine?
Reese Witherspoon proved that in 2021 when she sold Hello Sunshine, the media company she built on the back of her own voracious reading and savvy book rights acquisitions, to Blackstone-backed Candle Media for a reported $900 million.
What percentage of Hello Sunshine does Reese Witherspoon own?
Reese Witherspoon sold a majority stake in her production company, Hello Sunshine, to a Blackstone-backed media company in August 2021. The deal valued the company at $900 million. The Legally Blonde star, who still owns an estimated 18% stake in the business, is the world's richest actress.
In early August 2021, Witherspoon (after considering selling the company and hearing the interest of Apple) sold part of the company to a Blackstone backed media company, Candle Media, led by former Disney executives Kevin A. Mayer and Tom Staggs for $900 million.
China Investment Corporation, China's sovereign wealth fund, has sold its stake in Blackstone Group, the American private equity giant, the latter said in a recent filing.
While serving as president at Otter Media, Sarh Harden oversaw the formation and growth of media and production company Hello Sunshine in 2017. Reese Witherspoon, Hello Sunshine's founder, tapped Harden as CEO in 2017.
Hello Sunshine has reportedly been valued at $900 million, people familiar with the deal told WSJ. The company, which has already spawned a film and TV production company, its own VOD network (complete with Witherspoon's first-ever talk show, Shine on with Reese), and book club, centers on stories by and for women.
How much did Reese Witherspoon make for selling Hello Sunshine?
Reese Witherspoon Sold Her Production Company For $900 Million, But Is She Really The Richest Actress In The World? Following the sale of Hello Sunshine, Reese Witherspoon's production company, the actress saw her net worth skyrocket among the elite.
Indeed, Hello Sunshine is already getting its slice of those SVOD billions through licensing its shows like “Big Little Lies,” “The Morning Show” and “Little Fires Everywhere.” Sometimes it has co-owned the rights, sometimes it hasn't. The WSJ reports it will maintain an ownership in all going forward.
In August 2021, a Blackstone-backed media company purchased a majority stake in her production company, Hello Sunshine. According to Forbes, the deal valued Hello Sunshine at a very casual $900 million. Reese herself was expected to collect an estimated $120 million (after taxes) from the sale. Cool-cool-cool.
How much is Hello Sunshine production company worth?
In August 2021, The Wall Street Journal reported that Hello Sunshine was sold to a private equity group called Blackstone for $900 million. As Deadline noted, "Witherspoon and Hello Sunshine CEO Sarah Harden will join the board of the as-yet-unnamed company and will continue to operate Hello Sunshine."
Hello Sunshine, the media and entertainment company founded by Reese Witherspoon, acquired lifestyle brand and home organization company The Home Edit.
Something that surprised Guyton after meeting Witherspoon was that "she really is that nice person that you see" on the big screen. "You know, they say don't ever meet your heroes. I usually run. I literally do run away from massive celebrities like her," Guyton said of the "Sweet Home Alabama" star.
But he has little involvement in the meetings his wife relishes and little time for LA life. As her business brands grew, Reese's workaholic nature and energy caused conflict in the marital home, with one source saying: “Reese is always on the move.
Where does Reese Witherspoon live most of the time?
As Reese and Jim quietly sold off their California properties, it was expected that they would move back to Tennessee and return to Reese's Southern roots. Adding fuel to the fire, the pair purchased this magnificent fixer-upper mansion in Nashville in 2014.
Who has more money Reese Witherspoon and Jim Toth?
The former co-head of the motion picture talent department at CAA is worth $4 million according to Celebrity Net Worth, while Reese's net worth is $400 million fortune. The Big Little Lies star announced on March 24, 2023, that the pair were splitting after nearly 12 years of marriage.
Who is worth more Jennifer Aniston or Reese Witherspoon?
It may surprise a lot of people, but Witherspoon actually has a higher net worth than Aniston. Currently, Forbes reported that her net worth is around $400 million. And it will just keep climbing.
