Reese Witherspoon moves to buy back Hello Sunshine after 2021’s $900 million deal

Reese WitherspoonRodin Eckenroth/FilmMagic Reese Witherspoon’s Hello Sunshine has returned to the person who built it. In 2021, Candle Media acquired a controlling stake in the production company at a valuation of more than $900 million, a deal shaped by the peak of the streaming boom and the growing demand for premium, female-led stories. Five years later, Witherspoon has partnered with Paris-based Mediawan to buy the company back for a reported low- to mid-eight-figure amount, according to Axios.The turnaround highlights how sharply the business of entertainment has changed. Hello Sunshine remains a major creative force behind titles such as 'Big Little Lies', 'The Morning Show', 'Where the Crawdads Sing' and 'Daisy Jones & The Six', but its new sale price is only a fraction of the valuation it once carried. Deadline reported that Witherspoon is investing alongside Mediawan and described the acquisition as a homecoming for the company she founded in 2016.How Hello Sunshine built its reputationActor-producer Reese Witherspoon is also an avid reader. So much so that she has her own book club (Photo: Associated Press)Hello Sunshine began with backing from Peter Chernin and Jesse...