Reese Witherspoon made $ 900 million in profit in one day. Not with a special film role or an advertising deal, but because she sold her production company “Hello Sunshine”.
With “Hello Sunshine”, Reese Witherspoon started to change Hollywood in 2016. It should be a media company “that puts women at the center of every story we create, celebrate and discover,” the website says.
She didn’t just want to concentrate on her favorite job, film, but also on television, books and digital storytelling. One of the company’s greatest successes is the HBO series “Big Little Lies”, in which Witherspoon himself plays one of the leading roles.
Reese Witherspoon sells media company for $ 900 million
Now Witherspoon has sold the company. To a company led by former Disney executives Kevin Mayer and Tom Staggs and supported by the Blackstone Group investment company. “Hello Sunshine” was worth 900 million dollars to buyers. A sum that overnight made Witherspoon one of the richest women in Hollywood.
“Hello Sunshine” seems to stand out from the Hollywood media landscape. Many of the leading positions are held by women. This fits insofar as the company has made it its mission to tell stories by women and to promote women in all areas of the media world.
Originated in Witherspoon’s early career
Witherspoon made a name for herself in Hollywood with the star role of the underrated stupid: In “Naturally Blond” she played an It girl from Los Angeles who starts studying law at Harvard in order to win back her cocky boyfriend and in the end realizes that it is is much smarter than said friend.
In his late twenties, Witherspoon himself noticed that the roles for women in Hollywood beyond a certain age are meager. There were many reasons for this: too few women authors, too few women in positions of power. Too little material that women in films consider to be more than beautiful (young) accessories.
After being barely heard by existing production companies, she quickly founded her own company. “I know what to do,” she said in an interview with NPR Today. “I know every producer in Hollywood. I know how to take a movie from book to screenplay and I know how to market it.” And so “Hello Sunshine” (directed by Witherspoon alone since 2016) became an important media player.
For them, selling is the next logical step at a time when more and more stories are required for streaming providers. “Now we have the opportunity to tell more stories, hire more women filmmakers and encourage and support even more women writers,” Witherspoon told CNBC about her mega-deal.
Sources used: / /
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
