The female-focused Reese Witherspoon production company Hello Sunshine, which launched the television show Big Little Lies is being acquired by a startup looking to enter the rapidly expanding streaming market in Hollywood. On Monday the majority investment by a still-unidentified company, backed by the huge US private equity group Blackstone announced that it values Hello Sunshine at $900 million, as per The Wall Street Journal and CNBC.
Reese founded this company in 2016, with which she launched series like The Morning Show and Little Fires Everywhere. Speaking about this she said”I started this company to change the way women are seen in the media,”
Witherspoon’s work behind the scenes began in 2012, when she got quite irritated by the roles she was getting, she founded the production company by the name of Pacific Standard. With this first company, she worked on successful films such as Gone Girl and Wild. Shortly after, he founded Hello Sunshine.
According to an extensive Forbes report about her, in addition to her acting career and her role as a producer, the 45-year-old actress is in charge of two podcasts and a book club with more than two million members, which shows her interest in being on all kinds of platforms. She also said that the deal with Blackstone “will allow us to produce more stories about women globally, entertaining, shocking and enlightening, “
Let us tell you that this new company is led by former Disney executives Kevin Mayer and Tom Staggs. Mayer and Staggs would be identifying new acquisitions of content creators to build “an independent and friendly home for innovative, high-quality and cutting-edge brands and franchises” Its launch comes as Hollywood giants with Netflix, Disney +, HBO Max, and Amazon Prime Video starving for content.
Talking about Reese, she entered the world of production strongly in recent years, although she also stars alongside Jennifer Aniston the success of Apple TV + The Morning Show. She is now celebrating her great business achievement as a family, the company is working on films like “Legally Blonde 3” and an adaptation of the best-selling novel “Where the Crawdads Sing,” which was chosen as the book of the month in her book club Hello Sunshine. Witherspoon will continue to oversee the daily operations of the production company alongside its current CEO Sarah Harden, according to a joint statement. There are now reports that Amazon agreed to buy MGM studios for 8.45 billion. Leaving the US giant with a vast library of content to pursue its streaming market ambitions.
Coming to her personal front, She married fellow actor Ryan Philippe, with whom she had two older children, Ava and Deacon. Since 2008 she has been married to talent agent Jim Both, father of her youngest son, Tennessee James.
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