Reese Witherspoon’s Hello Sunshine sold for $900 million

Reese Witherspoon’s entertainment startup Hello Sunshine has been sold for $900 million to a firm backed by private-equity giant Blackstone Group.

Witherspoon’s media firm — whose shows include HBO’s “Big Little Lies,” Apple’s “The Morning Show” and Oscar-nominated thriller “Gone Girl,” is the first acquisition for the yet-to-be-named Blackstone-backed media venture, which will be run by former Disney execs Kevin Mayer and Tom Staggs. Witherspoon and Hello Sunshine chief executive Sarah Harden will join the board of the new company and will continue to operate the business.