Reese Witherspoon sells Hello Sunshine and starts a new business.

Reese Witherspoon sells Hello Sunshine and starts a new business.

Reese Witherspoon is having a dream day as she sells her media company, which she established, to a newly formed corporation backed by private equity giant Blackstone Group.

The deal's terms were not published, but according to The Wall Street Journal, it was valued at around $900 million.

Hello Sunshine was founded in 2016 by Witherspoon, who is renowned for her appearances in films such as "Legally Blonde" and "Walk the Line." She and members of Hello Sunshine's existing senior management team, including CEO Sarah Harden, will continue to supervise the company's day-to-day operations. Witherspoon and Harden will also serve as board members for the new media company run by entertainment executives Kevin Mayer and Tom Staggs.

Hello Sunshine produces scripted and unscripted television, feature films, animation series, podcasts, audio storytelling, and digital series, including "Big Little Lies," "The Morning Show," and "Little Fires Everywhere," all of which center on women. It also contains Reese's Book Club, whose selections have been adapted into films or limited series.