Reese Witherspoon's women-centered media company Hello Sunshine is sold for nearly $1BILLION to firm backed by private-equity giant Blackstone five years after she founded it | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

Reese Witherspoon's women-centered media company Hello Sunshine is sold for nearly $1BILLION to firm backed by private-equity giant Blackstone five years after she founded it

Private-equity giant Blackstone Group Inc is set to purchase Reese Witherspoon's media company Hello Sunshine for $900million as part of a larger plan to build an independent entertainment firm.

The new media company, which has yet to be named, was formed by former Disney executives Tom Staggs and Kevin Mayer and is backed by Blackstone, The Wall Street Journal reported.

Hello Sunshine, which was founded by Witherspoon, 45, five years ago, will be the company's first acquisition.

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