Entertainment
Reese Witherspoon makes major money moves as she sells Hello Sunshine production company for nearly $1bn
Reese Witherspoon has sold her production company for a very large sum (Picture: Chris Pizzello-Pool/Getty Images)
Reese Witherspoon has plenty to celebrate this week after her production company, Hello Sunshine, was sold for $900million (£647m).
Yep, the 45-year-old actress has made a pretty big profit for her successful business after it was snapped up by former Disney executives Kevin Mayer and Tom Staggs‘s new company.
According to the Wall Street Journal, the new company doesn’t yet have a name but has the financial backing of private-equity giant Blackstone Group, hence the nearly $1billion purchase.
The Cruel Intentions actress and Sarah Harden, Hello Sunshine’s CEO, will continue as board members for the production company and will oversee day-to-day operations. The pair will also remain significant equity holders.
As stated on its website, Hello Sunshine ‘is a media company that puts women at the center of every story we create, celebrate and discover.’
To date, the company has successful brought HBO’s Big Little Lies, Apple TV+’s The Morning Show, and Hulu’s Little Fires Everywhere to large audiences in recent years.
The company’s film projects include Gone Girl and Wild, while it also has the popular Reese’s Book Club and recently made the move into podcasting and family entertainment.
‘Today marks a tremendous moment for Hello Sunshine,’ the Legally Blonde star said in a statement. @I started this company to change the way all women are seen in media. Over the past few years, we have watched our mission thrive through books, TV, film and social platforms.’
More: US Showbiz news
She continued: ‘Today, we’re taking a huge step forward by partnering with Blackstone, which will enable us to tell even more entertaining, impactful and illuminating stories about women’s lives globally.’
Way to go, Reese. Elle Woods would be so proud!
Got a story?
If you’ve got a celebrity story, video or pictures get in touch with the Metro.co.uk entertainment team by emailing us celebtips@metro.co.uk, calling 020 3615 2145 or by visiting our Submit Stuff page – we’d love to hear from you.
