© Reuters. FILE PHOTO: Reese Witherspoon arrives to the Oscars red carpet for the 93rd Academy Awards in Los Angeles, California, U.S., April 25, 2021. Chris Pizzello/Pool via REUTERS

(Reuters) -Academy award-winning actress Reese Witherspoon’s media venture, Hello Sunshine, said on Monday it would be bought by a newly formed Blackstone Group (NYSE:) Inc-backed media firm for an undisclosed amount.

The new company is also backed by former Disney executives Kevin Mayer and Tom Staggs.

Founded in 2016, Hello Sunshine’s productions include “Big Little Lies,” “The Morning Show” and “Little Fires Everywhere.”

Its existing investors include AT&T Inc (NYSE:), Emerson (NYSE:) Collective, Strand Equity’s Seth Rodsky and Jim Toth.

Witherspoon and Chief Executive Officer Sarah Harden, who will join the board of the new media company, will continue to oversee the day-to-day operations of Hello Sunshine.

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