WSJ Apple mulling $1 billion acquisition of Reese Witherspoon’s media company

Categories: Entertainment
Posted: July 06, 2021

Popular actress Reese Witherspoon has been working with Apple TV+ for some time, but this partnership may become even stronger in the future. According to a new Wall Street Journal report, Witherspoon wants to sell her media company Hello Sunshine, and Apple is one of the potential buyers.

Citing people familiar with the matter, WSJ mentions that Hello Sunshine has been exploring a sale in recent months and that the company is valued at around $1 billion. More than that, Witherspoon’s joint venture is in talks with none other than Apple, which is reportedly interested in acquiring Hello Sunshine.

The company began pursuing a sale in recent months after receiving interest from multiple suitors including Apple Inc., one of the people said. 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.

Witherspoon, who is well known for her role in HBO’s “Big Little Lies” and now in Apple’s “The Morning Show,” has partnered with other Hollywood industry personalities to create Hello Sunshine. The actress founded the company in 2016 to produce content for women on TV, books, and other platforms.

Interestingly, Hello Sunshine is responsible for producing “The Morning Show” and “Truth Be Told,” both Apple TV+ shows. It’s also behind Hulu’s “Little Fires Everywhere” and other popular shows.

Apple has been working hard to expand the Apple TV+ catalog by acquiring the rights to movies and TV shows, as well as making new deals with famous artists. The acquisition of Witherspoon’s company could be another step in bringing even more original productions to Apple TV+, which has been available since November 2019 with no third-party content in its catalog.