Academy award-winning actress Reese Witherspoon’s media company, Hello Sunshine, is selling itself to a newly formed media firm backed by Blackstone Group for an undisclosed sum.
The sale will value the company at about US$900 million, people familiar with the matter told Reuters.
Founded in 2016, Hello Sunshine is the women-led production house behind series like HBO’s “Big Little Lies,” “The Morning Show” on Apple TV+, and “Little Fires Everywhere.”
The deal comes as a video streaming war between Netflix, Walt Disney Co’s Disney+, and AT&T’s HBO Max heats up, forcing the companies to spend billions of dollars on content.
“The rapidly growing demand for high-quality content is one of our firm’s highest-conviction investment themes,” Joe Baratta, the global head of private equity at Blackstone, said in a statement.
Earlier this year, Amazon announced the purchase of MGM, the fabled US movie studio home to the James Bond franchise.
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