Exclusive-Blackstone evaluates options for Reese Witherspoon's Hello Sunshine, sources say

Dawn Chmielewski and Amy-Jo Crowley

Wed, Mar 12, 2025, 7:14 AM 4 min read

By Dawn Chmielewski and Amy-Jo Crowley

(Reuters) - Blackstone is exploring options for Hello Sunshine, 1 of the best-known assets successful the portfolio of its Hollywood media company, Candle Media, including the anticipation of combining it with different company, 4 radical acquainted with the substance told Reuters.

Candle Media's acquisition of Reese Witherspoon's Hello Sunshine, the female-focused amusement institution down Apple TV+’s “The Morning Show” and Amazon's "Daisy Jones & the Six," catapulted the fledgling media institution to prominence successful 2021.

As with different autarkic accumulation companies, Hello Sunshine has struggled arsenic video streaming services chopped spending and the Hollywood strikes froze production, 3 of the radical said. Its diversified business, which includes an in-house societal bureau called Solar, that connects brands to women done storytelling, an yearly Shine Away lawsuit and Reese's Book Club, helped it stay profitable contempt the caller amusement manufacture turmoil, a 4th idiosyncratic said.

Blackstone and Candle Media executives are considering options that would springiness Hello Sunshine greater scope and scale, specified arsenic combining it with different studio, according to the 4 radical acquainted with the substance who spoke connected information of anonymity due to the fact that the discussions are private. These sources caution that Blackstone is not actively soliciting offers, though 1 of the sources added that successful a play of media consolidation, "every azygous autarkic workplace is looking to prime a creation partner."

"While we don’t remark connected woody speculation, we regularly research strategical opportunities to thrust growth, maximize value, and stay adaptable successful a rapidly evolving industry," a spokesperson for Candle Media said.

RTL Group, Europe's largest broadcaster, is exploring options for its Fremantle accumulation unit, including a merger, fixed a broader cutback successful TV commissioning crossed the industry, Reuters antecedently reported. British broadcaster ITV has besides been holding early-stage talks with Abu Dhabi-backed radical RedBird IMI astir a imaginable merger of their respective workplace businesses.

The backstage equity steadfast that backed Candle Media’s high-profile acquisitions -- including its $900-million woody for Hello Sunshine -- precocious conducted a strategical reappraisal of each of the Candle Media businesses, the radical said.

Blackstone decided to merchantability Candle Media's ATTN, a media institution champion known for topical short-form videos targeting Gen-Z and millennials, pursuing inquiries from prospective buyers, 2 of the sources said.