Reese Witherspoon’s media business, Hello Sunshine, valued at about $900 million, has sold to a unnamed firm supported by Blackstone Group, which is spending $500+ million in cash to purchase shares from existing investors, including AT&T and Emerson Collective. Terms of the deal were not disclosed. Former Disney executives Kevin Mayer and Tom Staggs will run the unnamed media company backed by Blackstone, while Witherspoon and chief executive Sarah Harden will join the board of the new venture and continue to oversee the day-to-day operations of Hello Sunshine. Continue reading Hello Sunshine Sold to New Media Company for $900 Million