Reese Witherspoon Buys Hello Sunshine Back at a Fraction of Its $900M
Summary
Reese Witherspoon is taking back control of Hello Sunshine. The price says a lot about how dramatically Hollywood's streaming-era valuations have changed.
Witherspoon has partnered with French production group Mediawan to reacquire Hello Sunshine from Candle Media for a low to mid eight-figure sum, according to Axios. Candle bought a controlling stake in the company in 2021, when Hello Sunshine was valued at roughly $900 million. The deal comes as Candle moves away from its original plan to build a sprawling independent media company, following the broader slowdown in streaming-driven content spending.