CNN BUSINESS | Reese Witherspoon’s Hello Sunshine sold to new Blackstone-backed media company

New York (CNN Business) – Reese Witherspoon’s women-centric media company Hello Sunshine is being sold.

The media company has been behind several of the actress’ recent TV projects such as “Big Little Lies,” “Little Fires Everywhere” and “The Morning Show” as well as the film “Wild.” The business also includes Reese’s Book Club. Witherspoon launched the company in 2016 as a joint venture with AT&T (T). (CNN is a division of WarnerMedia, which is owned by AT&T.)

Hello Sunshine’s buyer is a new media company backed by private equity firm Blackstone and led by former Disney (DIS) executives Tom Staggs and Kevin Mayer. Witherspoon and Hello Sunshine’s existing senior management are staying on and will continue running the company. Witherspoon and CEO Sarah Harden also are joining the board of the new company, the name of which was not disclosed. Other terms of the deal were not disclosed.

“I couldn’t be more excited about what this means for our future,” Witherspoon said in a statement. ”  —read more—