Hello Sunshine, the mission-driven media company that puts women at the center of every story it creates, founded by Reese Witherspoon in 2016, today announced a definitive agreement for a majority investment from a newly formed company run by leading entertainment executives Kevin Mayer and Tom Staggs and backed by investment capital from Blackstone, a leading global investment business.
Reese Witherspoon and Hello Sunshine’s existing senior management team, led by CEO Sarah Harden, will continue to oversee Hello Sunshine’s day-to-day operations and remain significant equity holders in the business. Under the terms of the agreement, Witherspoon and Harden will join the new media company’s board.
Hello Sunshine is a female-led content and media business whose mission is to lead and change the narrative for women and provide original content focusing on the narratives and experiences of women. This deal enables Hello Sunshine to accelerate its already strong growth, while also remaining independent. Hello Sunshine creates content across all platforms – from scripted and unscripted television, feature films, animated series, podcasts, audio storytelling, and digital series – including productions such as “Big Little Lies,” “The Morning Show,” and “Little Fires Everywhere.” It is also home to Reese’s Book Club – one of the largest and most influential book clubs in the world with many of its best-selling picks developed and produced for screen by Hello Sunshine.
This is the first investment for Mayer and Staggs’ new media company backed by Blackstone, which will be established as an independent, creator-friendly home for cutting-edge, high-quality, category-defining brands and franchises – with Hello Sunshine as a cornerstone, initial pillar of that strategy. By bringing together elite talent operating at the intersection of content, community, and commerce, it will help position leading entertainment businesses for accelerated, sustainable growth in the current market and beyond, the statement said.
Reese Witherspoon said: “Today marks a tremendous moment for Hello Sunshine. 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. I couldn’t be more excited about what this means for our future. I am committed to continuing to create opportunity for filmmakers, authors and creators of all backgrounds and experiences to tell their stories in their own way, and to reach more audiences who will see that their stories matter. This is a unique time in our world where the intersection of art, commerce and media makes it possible for these creators to tell their stories and Hello Sunshine is here to put a spotlight on their amazing creations. I am deeply proud of the team that got us to this incredible moment, and I’m thrilled to be working with Blackstone, Kevin, and Tom to grow a next generation media company. They are committed to helping our mission to empower women and the people who celebrate them. One story at a time.”
Sarah Harden said: “We began Hello Sunshine with a clear vision and an ambition to build a female-powered media company that centered on women’s stories, and it has been incredible to work alongside Reese and the entire Hello Sunshine team to turn that vision into a reality. Kevin and Tom and our partners at Blackstone see what we see – women’s stories matter, and we have economic power as consumers, creators and business leaders. Their commitment enables us to double-down on our mission and our ambitious growth agenda. Reese and our whole team are honored to be part of this new media company from the beginning and to have the opportunity to help shape its future.”
Kevin Mayer and Tom Staggs said: “We are thrilled to partner with Reese, Sarah, and the entire Hello Sunshine team. Hello Sunshine is a perfect fit for our vision of a new, next generation entertainment, technology, and commerce company. We seek to empower creators with innovation, capital, and scale to inspire, entertain, and delight global audiences with engaging content, experiences, and products. Our platform will foster a uniquely creator-friendly culture that gives elite talent the resources they need to create and capitalize on their best, most inventive work. We look forward to backing Reese, Sarah, and their world-class team as they continue to produce and identify dynamic, engaging content for years to come.”
Joe Baratta, Global Head of Private Equity at Blackstone, said: “The rapidly growing demand for high-quality content is one of our firm’s highest-conviction investment themes. We are excited to have partnered with Kevin and Tom, and now Reese, Sarah and Hello Sunshine – a pioneer and category leader in the historically underserved market of female-focused content. Reese is a visionary founder and entrepreneur who has built an extraordinary business with a long runway for continued expansion.”
The company’s executive team includes CEO Sarah Harden, COO, Liz Jenkins, President of Film and Television, Lauren Neustadter, Head of Unscripted, Sara Rea, Head of Kids and Animation, Claire Curley, and Head of Brand Partnerships, Zoe Fairbourn.
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