Hello Sunshine to be sold to a media company backed by Blackstone

Reese Witherspoon's media division, Hello Sunshine, was sold to a company owned by private equity giant Blackstone Group, Inc. as part of a plan to develop a modern, independent entertainment company that procures media streaming from Hollywood. "Little Fires Everywhere" by Hulu and Apple Inc. "The Morning Show" are two other Hello Sunshine products.

According to media reports, MGM Holdings has just agreed to repurchase for $ 8.5 billion, including debt, and Springhill, a conglomerate founded by LeBron James, is $ 750 million.