Reese Witherspoon sells stake in her firm to former Disney execs

The fast growth of streaming has led to a surge in film and TV deals as major companies look to bolster their libraries

The deal values Witherspoon’s firm Hello Sunshine at about $900m.

Oscar-winner Reese Witherspoon sold a majority stake in her production company to a new firm run by former top Walt Disney executives and backed by the private equity firm Blackstone Group, a deal that highlights the hot market for films and TV shows.

The purchase, led by former Disney executives Kevin Mayer and Tom Staggs, values Witherspoon’s Hello Sunshine at about $900m. Witherspoon and Hello Sunshine’s senior management team, led by Chief Executive Officer Sarah Harden, will continue to oversee its day-to-day operations and hold “significant” equity in the business.