Reese Witherspoon Buys Back Media Company Hello Sunshine

Reese Witherspoon is repurchasing her media company, Hello Sunshine, in partnership with the French media firm Mediawan. Witherspoon, 50, founded the company in 2016.

The announcement comes five years after Witherspoon sold a controlling stake in Hello Sunshine in a deal valued at nearly $900 million.

"Mediawan has built a global, independent studio by putting creators first. That has always been my vision for Hello Sunshine," Witherspoon stated in a press release. "I’m investing alongside Mediawan and joining Pierre-Antoine Capton and his teams because this is the perfect home for this new media landscape. It’s also a homecoming."

The financial terms of the new agreement have not been publicly disclosed. The partnership aims to expand Hello Sunshine's global reach and continue its project development.

In 2021, Hello Sunshine was acquired by the private-equity firm Blackstone Group Inc. as part of a broader initiative to establish an independent entertainment company. This new entity was formed by former Disney executives Tom Staggs and Kevin Mayer, with backing from Blackstone, according to The Wall Street Journal.

Witherspoon also conveyed her gratitude to Peter Chernin and Jesse Jacobs for their early support of Hello Sunshine, and thanked Blackstone and Candle Media for their partnership.

Hello Sunshine co-founder Seth Rodsky is expected to join the company's board, alongside Witherspoon and representatives from Mediawan.

In an Instagram post earlier this month, Witherspoon reflected on her career, sharing a highlight reel and captioning it, "Dream big. Work hard. And don’t wait around for someone else to make it happen."

Following the 2021 sale, Witherspoon expressed her excitement about the company's future. "I couldn't be more excited about what this means for our future," she wrote on Instagram at the time. "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 reach more audiences who will see that their stories matter."

She added, "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 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."

Blackstone's 2021 acquisition was reportedly executed through its private equity arm, which allocated approximately $500 million in cash to purchase shares from investors including Emerson Collective and AT&T Inc.