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From L.A. Business Journal: Reese Witherspoon Sells Production Company for $900 Million.

Hollywood hyphenate and Academy Award winner Reese Witherspoon has agreed to sell her Playa Vista-based media company, Hello Sunshine, for more than $900 million to a new company backed by private equity firm Blackstone Group Inc.

The deal, which was announced Aug. 2, came after interest from multiple companies in Witherspoon’s production business, which develops films, TV series and digital content.

The Blackstone-backed company making the acquisition is run by former Walt Disney Co. executives Kevin Mayer and Tom Staggs.

Hello Sunshine Chief Executive Sarah Harden will join Witherspoon on the board of the yet-to-be-named holding company and will continue to oversee day-to-day operations.

“Today marks a tremendous moment for Hello Sunshine,” Witherspoon said in a statement. “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.”

Read full post on L.A. Business Journal