Reese Witherspoon Sells Majority Stake in Hello Sunshine for Roughly $900M

Actress Reese Witherspoon just had a big pay day as she has sold a majority stake in her production company Hello Sunshine for about $900 million.

Hello Sunshine has produced shows that include the HBO drama “Big Little Lies” and the Apple TV+ series “The Morning Show.” It’s also the home of Witherspoon’s book club.

Witherspoon sold the stake to a new firm that is being run by former top Walt Disney Co. executives who are backed by private equity firm Blackstone Group Inc.

The purchase was led by former Disney executives Kevin Mayer and Tom Staggs, according to a person with knowledge of the matter who asked not to be identified.

Hello Sunshine’s senior management team, led by Chief Executive Officer Sarah Harden, as well as Witherspoon, will continue to oversee its day-to-day operations and hold “significant” equity in the business, according to a statement.

Witherspoon and Harden will also join the new media company’s board.

“This deal enables Hello Sunshine to accelerate its already strong growth, while also remaining independent,” the parties said.

The Hello Sunshine agreement is the first investment for Mayer and Staggs’ new media company.

Hello Sunshine is owned by Witherspoon and her partners, Seth Rodsky and Jim Toth, her husband. Blackstone is spending roughly $500 million to acquire shares from existing investors, according to the Wall Street Journal.