Reese Witherspoon's Hello Sunshine, the production banner behind BigLittleLies and TheMorningShow, has been sold for $900 million. Witherspoon will continue to run the company
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Hello Sunshine’s sale comes on the heels of other major acquisitions — including Amazon’s purchase of MGM and Discovery’s takeover of WarnerMedia — as companies fight to compete in an increasingly crowded streaming market. Staggs and Mayer have been seeking a number of deals in recent months for their still-unnamed media company. Blackstone has backed the company with a war chest of at least $2 billion, with the firm’s head of private equity Joe Baratta saying in a statement Monday that “the rapidly growing demand for high-quality content is one of our firm’s highest-conviction investment themes.”
Staggs and Mayer said in a statement that “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,” they added. “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.
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