Reese Witherspoon's Hello Sunshine production house sold for $900 to a media company

Hollywood actress Reese Witherspoon's Hello Sunshine production house has been officially sold for a whooping $900 million to a media company backed by Blackstone Group Inc. The Wall Street Journal first reported the news of Hello Sunshine's Sale.

According to WSJ, Witherspoon said in a statement, “Today marks a tremendous moment for Hello Sunshine. I started this company to change the way all women are seen in media in the past few years. We have watched our mission is thrive through books, TV, films, and social platforms. Today we are taking a huge step forward by partnering with Blackstone, which will enable us to tell even more impactful, entertaining and nominating stories about women's lives, globally.”

Hello Sunshine was Founded in 2016. Witherspoon and Sarah Harden, the company's CEO, will also join the board of new company and will oversee day to day operations. According to WSJ, Blackstone paid more than $500 million in cash to buy shares of Hello Sunshine.