Hello Sunshine, the media company founded by actress and entrepreneur Reese Witherspoon whose titles include the hit HBO drama “Big Little Lies,” and “The Morning Show,” “Truth Be Told,” and the upcoming as-yet-untitled Colleen McGuinness comedy series for Apple TV+, is exploring a sale in recent months after receiving interest from multiple suitors including Apple, The Wall Street Journal reports citing “people familiar with the matter.”
Benjamin Mullin and Cara Lombardo for The Wall Street Journal:
People close to the situation say the company could be valued at as much $1 billion in a deal.
Hello Sunshine is working with investment bankers as it explores its options, the people familiar with the matter say. There is no guarantee the company will find a buyer.
Hello Sunshine is owned by Ms. Witherspoon and her partners, Seth Rodsky and Jim Toth, a former agent at Creative Artists Agency who is Ms. Witherspoon’s husband. The company’s management team also has equity in the venture.
AT&T Inc. also owns a stake in Hello Sunshine through its 2018 purchase of Otter Media. Emerson Collective, the philanthropic organization founded by Laurene Powell Jobs, also owns a stake.
A sale of Hello Sunshine would be a milestone in Ms. Witherspoon’s three-decade career, which has included major roles in films including “Legally Blonde,” “Wild” and “Election.” Ms. Witherspoon won the Academy Award for best actress in 2006 for her performance as June Carter in “Walk the Line,” the 2005 biopic of country music legend Johnny Cash.
MacDailyNews Take: Synergy.