In October of 2019, Reese Witherspoon sold her company, Hello Sunshine, to AT&T for an undisclosed amount. Witherspoon founded Hello Sunshine in 2016 as a media company focused on female-driven content. The company has produced several films and television shows, including the hit HBO series Big Little Lies.
So why did Witherspoon sell her successful company? There are a few possible reasons. First, Witherspoon may have wanted to cash out while the company was still doing well.
Second, AT&T may have made her an offer she couldn’t refuse. Third, as a large media conglomerate, AT&T may be better equipped to help Hello Sunshine grow even larger. Whatever the reason, it’s clear that Witherspoon is no longer interested in running Hello Sunshine herself.
Why Did Reese Witherspoon Sell Her Company?
Reese Witherspoon’s decision to sell her company is a savvy business move. Here are three reasons why:
1. She can focus on other projects: Witherspoon is an Oscar-winning actress, producer, and author.
She has her hands full with plenty of other projects. Selling her company allows her to focus on what she does best.
2. The timing is right: The sale comes at a time when the company is doing well.
It’s been reported that the sale price was around $300 million. That’s a nice payday for Witherspoon and her investors.
3. She can still be involved: Just because she’s selling the company doesn’t mean she’s severing all ties.
Reese Witherspoon Net Worth
It’s no secret that Reese Witherspoon is one of Hollywood’s highest-paid actresses. In fact, her net worth is an estimated $120 million! So how did she make all this money?
For starters, Witherspoon has starred in some major box office hits over the years, including Legally Blonde, Walk the Line (for which she won an Oscar), and Sweet Home Alabama. She also receives a hefty paycheck for her role as executive producer on the popular HBO series Big Little Lies. In addition to her acting and producing gigs, Witherspoon has made wise investments over the years.
She owns a stake in the lifestyle brand Draper James and has partnered with Avon cosmetics. She also recently launched her own wine label called Aubert & Co. It’s clear that Reese Witherspoon knows how to make money!
And with a net worth of $120 million, she’s not doing too bad for herself.
What Did Reese Witherspoon Sell Her Production Company For?
On November 1, 2017, Reese Witherspoon’s production company, Pacific Standard, was sold to Hello Sunshine for an undisclosed amount. The sale includes both the company and its library of film and TV projects.
Witherspoon founded Pacific Standard in 2012 with producing partner Bruna Papandrea.
The company’s first project was the 2014 film “Gone Girl,” which grossed over $370 million at the global box office. Since then, Pacific Standard has produced a number of films and TV shows, including “Wild,” “Hot Pursuit,” “Big Little Lies” (for which Witherspoon won an Emmy), and “A Wrinkle in Time.” Hello Sunshine is a media company founded by former Warner Bros. executive Sarah Harden that focuses on female-driven content.
In addition to acquiring Pacific Standard, Hello Sunshine has also recently launched a podcast network and signed a first-look deal with AppleTV+. The sale of Pacific Standard is part of a larger trend of entertainment companies being bought up by larger corporations. For example, Disney recently purchased 21st Century Fox, while AT&T is in the process of acquiring Time Warner (the parent company of HBO).
Does Reese Still Own Hello Sunshine?
In October of 2019, it was announced that Reese Witherspoon’s production company Hello Sunshine would be acquired by AT&T’s Warner Bros. This acquisition was part of WarnerMedia’s larger purchase of Otter Media, which Hello Sunshine was a part of. At the time of the announcement, it was not clear what role Witherspoon would have with Hello Sunshine after the acquisition.
However, it has since been confirmed that she will continue to serve as CEO and head creative officer of the company.
Does Reese Witherspoon Still Have a Production Company?
Yes, Reese Witherspoon still has a production company called Hello Sunshine. She founded the company in 2012, and it has produced various films and TV shows, including Big Little Lies and The Morning Show.
What Percentage of Hello Sunshine Does Reese Witherspoon Own?
According to a report from The New York Times, Reese Witherspoon owns a 72 percent stake in Hello Sunshine, the media company she founded in 2016. Hello Sunshine produces content across multiple platforms, including TV, film, and podcasts. In 2019, the company launched its own streaming service.
Reese Witherspoon sold her company, Hello Sunshine, because she felt like it was the right thing to do. She said that she loved the company and the team, but she felt like it was time for her to move on. Hello Sunshine was a great experience for her, and she is grateful for all that she learned.