Reese Witherspoon SELLS media company Hello Sunshine to ex TikTok CEO; says she 'couldn't be more excited'
Reese Witherspoon’s media company Hello Sunshine has reportedly been sold to a new media company which is led by Tom Staggs and ex-TikTok CEO Kevin Mayer, former Walt Disney Company Executives. According to The Hollywood Reporter Reese’s company Hello Sunshine has been valued at $900 million by private equity giant Blackstone.
Previously, the company has produced HBO’s Big Little Lies, Apple TV+’s The Morning Show starring Reese Witherspoon and Jennifer Aniston, and Hulu’s Little Fires Everywhere. Witherspoon’s company is owned by herself, her husband Jim Toth, Seth Rodsky, and investors AT&T and Laurene Powell Jobs’ Emerson Collective. Reportedly, via The Hollywood Reporter, Witherspoon and CEO Sarah Harden will continue being partners in running the company and remaining equity holders. Reese Witherspoon, along with Sarah Harden will also join as board members of the new media company.
As per The Hollywood Reporter, Staggs and Mayer have been looking out for other deals for their media company. In a statement, Staggs and Mayer said, “Hello Sunshine is a perfect fit for our vision of a new, next-generation entertainment, technology, and commerce company.”
As early as in February, it was also reported that Reese Witherspoon’s company is looking to roll up Scooter Braun’s Ithaca Holding. However, Ithaca Holdings was later sold to South Korea’s HYBE group.
While speaking of the deal, according to The Hollywood Reporter, Witherspoon said in a statement, that the deal “will enable us to tell even more entertaining, impactful and illuminating stories about women’s lives globally. I couldn’t be more excited about what this means for our future,” adding that she is still ‘committed’ to ‘create opportunities’ for authors, filmmakers and creators.