Hello Sunshine Sold to New Blackstone-Backed Media Firm

Hello Sunshine, founded by Reese Witherspoon, has entered into a definitive agreement for a majority investment from a newly formed company run by Kevin Mayer and Tom Staggs and backed by the investment capital firm Blackstone.

Witherspoon and Hello Sunshine’s existing senior management team, led by Sarah Harden as CEO, will continue to oversee the company’s day-to-day operations and remain significant equity holders in the business. Witherspoon and Harden will also join the new media company’s board.

This marks the first investment for Mayer and Staggs’ new media company backed by Blackstone. The plan is to establish an independent, creator-friendly home for cutting-edge, high-quality, category-defining brands and franchises, with Hello Sunshine as a cornerstone and initial pillar of its strategy.

Hello Sunshine creates content across all platforms—from scripted and unscripted television, feature films and animated series to podcasts, audio storytelling and digital series. Its productions include Big Little Lies, The Morning Show and Little Fires Everywhere. It is also home to Reese’s Book Club, with many of its best-selling picks developed and produced for the screen by Hello Sunshine.

Witherspoon said: “Today marks a tremendous moment for Hello Sunshine. I started this company to change the way all women are seen in media. Over the past few years, we have watched our mission thrive through books, TV, film and social platforms. 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. I am committed to continuing to create opportunity for filmmakers, authors and creators of all backgrounds and experiences to tell their stories in their own way, and to reach more audiences who will see that their stories matter. This is a unique time in our world where the intersection of art, commerce and media makes it possible for these creators to tell their stories and Hello Sunshine is here to put a spotlight on their amazing creations. I am deeply proud of the team that got us to this incredible moment, and I’m thrilled to be working with Blackstone, Kevin and Tom to grow a next-generation media company. They are committed to helping our mission to empower women and the people who celebrate them. One story at a time.”

Harden said: “We began Hello Sunshine with a clear vision and an ambition to build a female-powered media company that centered on women’s stories, and it has been incredible to work alongside Reese and the entire Hello Sunshine team to turn that vision into a reality. 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. Their commitment enables us to double down on our mission and our ambitious growth agenda. Reese and our whole team are honored to be part of this new media company from the beginning and to have the opportunity to help shape its future.”

Mayer and Staggs said: “We are thrilled to partner with Reese, Sarah and the entire Hello Sunshine team. Hello Sunshine is a perfect fit for our vision of a new, next-generation entertainment, technology and commerce company. We seek to empower creators with innovation, capital and scale to inspire, entertain and delight global audiences with engaging content, experiences and products. 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. We look forward to backing Reese, Sarah and their world-class team as they continue to produce and identify dynamic, engaging content for years to come.”

Joe Baratta, global head of private equity at Blackstone, said: “The rapidly growing demand for high-quality content is one of our firm’s highest-conviction investment themes. We are excited to have partnered with Kevin and Tom, and now Reese, Sarah and Hello Sunshine—a pioneer and category leader in the historically underserved market of female-focused content. Reese is a visionary founder and entrepreneur who has built an extraordinary business with a long runway for continued expansion.”