WSJ: Apple Considering A $1 Billion Purchase Of Reese Witherspoon’s Media Company
Apple is reportedly considering spending a cool $1 billion to buy the media company that was founded by actor Reese Witherspoon. Hello Sunshine is said to be a potential purchase for Apple, according to reports.
The Wall Street Journal notes that Hello Sunshine has been exploring the idea of a sale for months now, and that the company is valued at or around the $1 billion mark. Apple doesn’t appear to be put off by the high asking price.
The company began pursuing a sale in recent months after receiving interest from multiple suitors including Apple Inc., one of the people said. People close to the situation say the company could be valued at as much $1 billion in a deal.
Hello Sunshine is working with investment bankers as it explores its options, the people familiar with the matter say. There is no guarantee the company will find a buyer.
Hello Sunshine and Apple already have a relationship after the pair worked together on Apple TV+ shows “The Morning Show” and “Truth Be Told.”
Apple continues to add new content to the streaming service and presumably sees picking up Hello Sunshine as a way to increase the rate — and cost-effectiveness — of doing that. It would also likely tie Reese Witherspoon to Apple at the same time.