Reese Witherspoon’s media company, Hello Sunshine, has made a surprising (and for some, devastating) move just weeks after it was announced that she had bought back the business she originally founded.
Along with French conglomerate Mediawan, Witherspoon reacquired the production company from Candle Media “for just a fraction of the $900 million that Candle Media had paid for it” when the star sold it in August 2021, according to Variety. “Now, after just a few weeks in the driver’s seat, Witherspoon has let go some 30 employees — roughly 50% of Hello Sunshine’s staff.”
“[M]ultiple sources” confirmed the news to Variety, adding “that Hello Sunshine will now focus primarily on film and television projects and the Reese’s Book Club brand, with the direct-to-consumer division being gutted.”
When it was reported earlier this month that Witherspoon was involved in buying back the company she had founded in 2016, she released a statement, via The Hollywood Reporter, saying, “Mediawan has built a global, independent studio by putting creators first. That has always been my vision for Hello Sunshine.”
“I’m investing alongside Mediawan and joining Pierre-Antoine Capton [producer and co-founder of Mediawan] and his teams because this is the perfect home for this new media landscape,” Witherspoon continued. “It’s also a homecoming. Peter Chernin [producer and chairman/CEO of The Chernin Group] and Jesse Jacobs [co-founder of The Chernin Group] believed in Hello Sunshine from day one.”
Witherspoon’s statement went on to say, “I’m deeply proud of what our incredible team has built, and grateful to Blackstone and Candle Media for their partnership and unwavering support. The best is still ahead.”
Hello Sunshine’s current credits include The Morning Show (2019-2027), Little Fires Everywhere (2020), From Scratch (2022), Where the Crawdads Sing (2022), The Last Thing He Told Me (2023), and Daisy Jones & The Six (2023).
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