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.
The new media venture Blackstone is backing will be run by former Walt Disney Co. executives Kevin Mayer and Tom Staggs, with Hello Sunshine as its first acquisition. Witherspoon and Hello Sunshine CEO Sarah Harden will join the board of the as-yet-unnamed company and will continue to operate Hello Sunshine.
According to the WSJ, Blackstone is spending more than $500 million in cash to purchase shares from existing Hello Sunshine investors, including AT&T and Emerson Collective. Witherspoon and some Hello Sunshine executives and investors will roll over the remaining equity into ownership stakes in the newly formed company.
Witherspoon’s star power and her ability to turn books into...
The new media venture Blackstone is backing will be run by former Walt Disney Co. executives Kevin Mayer and Tom Staggs, with Hello Sunshine as its first acquisition. Witherspoon and Hello Sunshine CEO Sarah Harden will join the board of the as-yet-unnamed company and will continue to operate Hello Sunshine.
According to the WSJ, Blackstone is spending more than $500 million in cash to purchase shares from existing Hello Sunshine investors, including AT&T and Emerson Collective. Witherspoon and some Hello Sunshine executives and investors will roll over the remaining equity into ownership stakes in the newly formed company.
Witherspoon’s star power and her ability to turn books into...
- 8/2/2021
- by Nellie Andreeva
- Deadline Film + TV
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