Academy award-winning actress Reese Witherspoon’s media company, Hello Sunshine, is selling itself to a newly formed media firm backed by Blackstone Group for an undisclosed sum.
The sale will value the company at about US$900 million, people familiar with the matter told Reuters.
Founded in 2016, Hello Sunshine is the women-led production house behind series like HBO’s “Big Little Lies,” “The Morning Show” on Apple TV+, and “Little Fires Everywhere.”
The deal comes as a video streaming war between Netflix, Walt Disney Co’s Disney+, and AT&T’s HBO Max heats up, forcing the companies to spend billions of dollars on content.
“The rapidly growing demand for high-quality content is one of our firm’s highest-conviction investment themes,” Joe Baratta, the global head of private equity at Blackstone, said in a statement.
Earlier this year, Amazon announced the purchase of MGM, the fabled US movie studio home to the James Bond franchise.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
