Reese Witherspoon’s Hello Sunshine Picked up by Kevin Mayer and Tom Stagg’s New Media Company

Rachel Uranga

Rachel Uranga is dot.LA's Managing Editor, News. She is a former Mexico-based market correspondent at Reuters and has worked for several Southern California news outlets, including the Los Angeles Business Journal and the Los Angeles Daily News. She has covered everything from IPOs to immigration. Uranga is a graduate of the Columbia School of Journalism and California State University Northridge. A Los Angeles native, she lives with her husband, son and their felines.

Reese Witherspoon’s Hello Sunshine Picked up by Kevin  Mayer and Tom Stagg’s New Media Company
The women-focused media company run by Reese Witherspoon, Hello Sunshine, is being sold to former Disney executives Kevin Mayer and Tom Staggs' media startup. Terms of the deal weren't disclosed but according to the Wall Street Journal, it's valued at $900 million.

Mayer and Staggs' yet-to-be-named company is backed by investment capital group Blackstone. The acquisition is the first by the new company, which hopes to use Hello Sunshine to establish itself as an independent, creator-friendly media company.

Launched in 2016, Hello Sunshine produces series for Apple, Hulu, HBO and Amazon. It's best known for "Big Little Lies," "Little Fires Everywhere," and "The Morning Show," but it also creates a host of unscripted shows, and is in production with several films including an adaption of the novel 'Where the Crawdads Sing,' one of Reese's Book Club picks.

Witherspoon and Hello Sunshine's CEO Sarah Harden and its senior management will continue to oversee day-to-day operations. Witherspoon and Harden will also join the company's board.

The cash shelled out for the five-year-old company speaks to the soaring value of high-end content as streamers compete to fill their bottomless libraries. Media companies have increasingly foregone licensing out their productions in lieu of retaining them for their owned-and-operated streaming platforms. That could create an opportunity for an independent studio with no ties to a specific streamer.

Fellow star-driven independent production studio, LeBron James' SpringHill Company, has also been rumored to be exploring a sale. Earlier this year Amazon acquired MGM Studios for $8.45 billion to fill the pipes of its Amazon Prime Video.

"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," Witherspoon said in announcing the deal.

Subscribe to our newsletter to catch every headline.

Cadence

LA Tech ‘Moves’: Adtech Firm OpenX Lures New SVP, Getlabs and DISQO Tap New VPs

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Adtech Firm OpenX Lures New SVP, Getlabs and DISQO Tap New VPs
Photo by James Opas | Modified by Joshua Letona

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

Read moreShow less

This Week in ‘Raises’: Miracle Miles Lands $100M, Fintech Startup Tapcheck Hauls $20M

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

This Week in ‘Raises’: Miracle Miles Lands $100M, Fintech Startup Tapcheck Hauls $20M
Image by Joshua Letona

In this week’s edition of “Raises”: An L.A.-based footwear company closed $100 million to boost its expansion into the global market, while there were Series A raises for local fintech, biotech and space startups.

Read moreShow less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending