Reese Witherspoon has joined forces with a private-equity firm Blackstone Group Inc., in efforts to broaden its reach in the entertainment sector, while clocking a huge payday.
According to the Wall Street Journal, Reese Witherspoon’s production company, Hello Sunshine, which she started in 2016, was sold for $900 million. The buyer is a media company controlled by Blackstone Group Inc.
Witherspoon and Hello Sunshine CEO Sarah Harden will join the company’s board of directors, assisting with the oversight of operations and upcoming productions, while retaining their stake in Hello Sunshine.
Witherspoon said of the partnership: “Today marks a tremendous moment for Hello Sunshine. I started this company to change the way all women are seen in the media. Over the past few years, we have watched our mission thrive through books, TV, film and social platforms.
“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.”
Hello Sunshine used to operate under the name Pacific Standard and was responsible for films such as Wild, Gone Girl, and Lucy in the Sky. Also, Big Little Lies, The Morning Show, and Truth Be Told are among the shows produced by the company.
Speaking for the unnamed new production house was former Disney executives Tom Staggs and Kevin Mayer, who shared the vision for the new acquisition, saying:
“We are thrilled to partner with Reese, Sarah, and the entire Hello Sunshine team. Hello Sunshine is a perfect fit for our vision of a new, next generation entertainment, technology, and commerce company.
“We seek to empower creators with innovation, capital, and scale to inspire, entertain, and delight global audiences with engaging content, experiences, and products. Our platform will foster a uniquely creator-friendly culture that gives elite talent the resources they need to create and capitalize on their best, most inventive work. We look forward to backing Reese, Sarah, and their world-class team as they continue to produce and identify dynamic, engaging content for years to come.”
Education: Computer Network Engineering, Computer Desktop Administration
Fave Song: Destiny's Child 'Dangerously in love'
Fave Colour: Grey.
With £1m what would you do: I would do my part to provide opportunities to the less fortunate. Then do my best to change the world in my own way through sports and talent building.
