NEW DEAL
Reese Witherspoon sells her media company for $900 million
The actress will still be overseeing the company’s operations and will be involved in the board, as well as remaining equity holders in the business.
Reese Witherspoon is making money moves! The Hollywood star has proven she is also a savvy entrepreneur, now that she has closed an incredible deal, selling her Hello Sunshine media business for $900 million.
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The actress found success with her media firm, after producing blockbuster films and some of the most watched shows, including Gone Girl, Wild, HBO’s Big Little Lies, Apple’s The Morning Show and Hulu’s Little Fires Everywhere.
Reese shared her excitement, admitting she is “committed to continuing to create opportunities for filmmakers, authors and creators of all backgrounds and experiences to tell their stories in their own way,” adding that she wants to “reach more audiences who will see that their stories matter.”
And while the media firm has been sold to a media firm backed by private-equity group Blackstone Group Inc, the star and Hello Sunshine’s existing senior management team, will still be overseeing the company’s operations and will be involved in the board, as well as remaining equity holders in the business.
It was revealed that the next chapter for the company is to “build an independent entertainment company for Hollywood’s streaming era,” as Reese explained, confessing she is “thrilled to be working with Blackstone, Kevin, and Tom to grow a next generation media company.”
