Hello Sunshine, founded in 2016, is selling itself to a firm backed by Blackstone Group Inc, an investment management company, The Wall Street Journal reported on Monday.
While the companies didn’t publicly disclose the terms of the deal, the newspaper reported the $900m price tag citing people familiar with the matter. The Independent has contacted Hello Sunshine for more information.
“I’m going to double down on that mission to hire more female creators from all walks of life and showcase their experiences,” Witherspoon said. “This is a meaningful move in the world because it really means that women’s stories matter.”
The deal is reportedly part of a plan to launch a yet-unnamed independent entertainment company to be run by former executives at The Walt Disney Company.
Hello Sunshine has earned 18 Emmy nominations so far, for Big Little Lies as well as The Morning Show (starring Jennifer Aniston, Witherspoon, and Steve Carell) and Little Fires Everywhere, the adaptation of Celeste Ng’s novel of the same name.
Big Little Lies is based on the novel of the same name by Liane Moriarty. Its first season came out in 2017, and a second followed in 2019.