Witherspoon, Mediawan buy back Hello Sunshine stake from Candle

Reese Witherspoon and European studio Mediawan are acquiring Candle Media's majority stake in Hello Sunshine, the production company Witherspoon founded, the companies announced Oct. 13. Witherspoon is investing alongside Mediawan, which also holds Chernin Entertainment and Plan B Entertainment. Neither side disclosed terms, though Axios reported, citing sources, that the price falls in the low- to mid-eight figures, a small fraction of Hello Sunshine's 2021 valuation. Cofounder Seth Rodsky will join Hello Sunshine's board alongside Witherspoon and Mediawan representatives. Witherspoon called the deal "a homecoming" in a statement, crediting Peter Chernin and Jesse Jacobs, whose Chernin Group backed Hello Sunshine at its 2016 launch.

AI-generated from reports · 2 days agoUpdate