Reese Witherspoon founded Hello Sunshine in 2016 with the goal of empowering women through telling their stories. [Credit: Red Carpet Report // Flickr]
Reese Witherspoon founded Hello Sunshine in 2016 with the goal of empowering women through telling their stories. [Credit: Red Carpet Report // Flickr]

Women’s stories matter — and they’re incredibly valuable, too. 

Hello Sunshine, the women-centered media company founded by Reese Witherspoon in 2016, is being acquired by a new, yet-to-be-named firm led by former Disney executives Kevin Mayer and Tom Staggs. The venture is backed by private equity giant Blackstone Group, The Wall Street Journal first reported. 

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Witherspoon and Hello Sunshine CEO Sarah Harden will be joining the new board so they can continue to oversee everyday operations for their company, which has produced quality series such as HBO’s “Big Little Lies” and Hulu’s “Little Fires Everywhere.” (Both of which have women in the lead, it should be noted.)

“Today, we’re taking a huge step forward by partnering with Blackstone, which will enable us to tell even more entertaining, impactful and illuminating stories about women’s lives globally. I couldn’t be more excited about what this means for our future,” Witherspoon said in a release.

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Hello Sunshine is the first acquisition made by Mayer and Staggs, and according to CNBC, the deal is valued at about $900 million. Blackstone Group will be buying shares from Witherspoon’s current investors, including AT&T and Emerson Collective. 

The objective is to build an independent entertainment company that will cater to Hollywood’s streaming era. 

“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,” Mayer and Staggs said in a release. 

“Kevin and Tom and our partners at Blackstone see what we see – women’s stories matter, and we have economic power as consumers, creators and business leaders,” Harden added. “Their commitment enables us to double-down on our mission and our ambitious growth agenda.”

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