Reese Witherspoon is Contemplating a Sale of her Media Company Hello Sunshine and Apple is reportedly in the running
Reese Witherspoon’s media company, Hello Sunshine, is exploring a sale which could run as high as $1 Billion, according to the Wall Street Journal. The company has been on a roll with Big Little Lies on HBO and The Morning Show on Apple TV+ which is set to start season two on September 17th.
The company began pursuing a sale in recent months after receiving interest from multiple suitors including Apple Inc., one of the people said. People close to the situation say the company could be valued at as much $1 billion in a deal.
Apple may be a potential suitor in the sale of Hello Sunshine.
Reese Witherspoon s production company could sell for as much as $1 billion.
Hello Sunshine, the production company founded by Reese Witherspoon, could be acquired by Apple.
As reported by The Wall Street Journal, one of the potential buyers for the production studio was at one point actually Apple. The report does not say, however, if Apple is still in the running to acquire the company as a boost to its Apple TV+ streaming service.
The company began pursuing a sale in recent months after receiving interest from multiple suitors including Apple Inc., one of the people said. People close to the situation say the company could be valued at as much $1 billion in a deal.
Apple expressed interest in buying Reese Witherspoon s Hello Sunshine media company Reese Witherspoon s Hello Sunshine media production company is reportedly mulling a sale after Apple and other big industry names expressed interest in an acquisition.
Source:
Citing sources familiar with the matter,
The Wall Street Journal reports Hello Sunshine is working with investment bankers to explore a potential sale that could see the company valued at as much as $1 billion. Whether Hello Sunshine will find a suitable bidder is unknown, and it is unclear if Apple is still pursuing a deal.
Witherspoon s media company is responsible for hit shows like HBO s Big Little Lies, Hulu s Little Fires Everywhere, and a number of current and upcoming Apple TV+ originals including The Morning Show, Truth Be Told, My Kind of Country, Surface, and The Last Thing He Told Me. Amazon and Netflix also field shows produced by the venture.
The company has drawn interest from a number of suitors and could fetch as much as $1 billion, they said.Hello Sunshine is owned by Witherspoon and her partners, Seth Rodsky and Jim Toth. Toth is a former talent agent with Creative Artists Agency and is Witherspoon’s husband.
Media assets, from smaller production companies like Witherspoon’s to larger operations like Metro-Goldwyn-Mayer, have been snapped up by studios and streaming companies looking to build their libraries.
News of the possible sale was reportedly earlier Tuesday by the Wall Street Journal, which listed Apple Inc. among the potential buyers.
Hello Sunshine has received backing from a variety of sources. AT&T Inc., the owner of HBO, owns a stake, along with Emerson Collective, the philanthropic group led by Laurene Powell Jobs. Its production slate includes Hulu’s “Little Fires Everywhere,” a series featuring Witherspoon and Kerry Washington.