Reese Witherspoon (pictured above) has sold her media business, Hello Sunshine, The Wall Street Journal, reported. Apple was thought to be interested in making the acquisition. However, it was a firm backed by private equity group Blackstone that was ultimately successful.
Apple Not Purchasing Reese Witherspoon’s Hello Sunshine Media Firm
Although the companies did not disclose the terms of the deal, it is understood that it values Hello Sunshine at around US$900 million. Blackstone itself spent more than US$500 million on shares from current investors. These include the Emerson Collective, run by Laurene Powell Jobs, the widow of Steve Jobs. AT&T had also previously been amongst the existing investors.
Hello Sunshine offerings include HBO’s Big Little Lies and Truth be Told on Apple TV+. Ms. Witherspoon owns the company Seth Rodsky, and Jim Toth. She stars in the Apple TV+ series The Morning Show alongside Jennifer Aniston.