It's a perfect day for Reese Witherspoon as the actress and producer is selling the media company she founded, Hello Sunshine, to a newly formed company backed by private equity firm Blackstone Group.
Terms of the transaction were not disclosed but The Wall Street Journal reported that the deal was worth about $900 million.
Witherspoon, known for her roles in films such as "Legally Blonde" and "Walk the Line," created Hello Sunshine in 2016. She will continue to oversee its day-to-day operations along with members of Hello Sunshine's existing senior management team, including CEO Sarah Harden. 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, which focuses on putting women at the center of its stories, creates scripted and unscripted television, feature films, animated series, podcasts, audio storytelling, and digital series – including "Big Little Lies," "The Morning Show," and "Little Fires Everywhere." It is also houses Reese's Book Club, with many of the club's picks turned into movies or limited series.
Nikki Baker Becomes CEO At Fallon
Fallon has appointed Nikki Baker as its new CEO. Baker, who joined the creative agency in 2018 and has served as co-chief creative officer with Leslie Shaffer since 2021, succeeds Rocky Novak, who has been in the role since 2019.
Baker’s promotion to CEO comes at a time of significant momentum for the agency, including six consecutive years of growth and award-winning work.
Baker’s recent career highlights include creatively leading the Walmart partnership with the Publicis Groupe team and spearheading innovative campaigns such as the award-winning “RomCommerce” 23-episodic series and the internet-breaking Mean Girls campaign, among hundreds of other campaigns together with the brand over the past few years. Together with Shaffer, Baker has also been instrumental in elevating Fallon’s creative output for longstanding clients like Arby’s, Mattress Firm, and Front Door/American Home Shield.
“I’ve always been an admirer of Fallon, even before I joined. The chance to lead the agency is an absolute honor. Fallon is a place like no other with amazing talent and a legacy of building big, innovative, creative ideas,” said Baker. “Rocky has represented the best of Fallon. He’s been a great leader, and I couldn’t be more excited to take the reins and lead the agency through to the next chapter. With creativity at our core, we’re going to be as ambitious as ever, push boundaries, and continue embracing emerging platforms to deliver work that truly resonates in culture.”
Prior to joining Fallon six years ago, Baker held positions as creative director and art director at agencies including DDB and GSD&M, working with major brands such as McDonald’s, Southwest Airlines, and Wrigley. Her work has been recognized by... Read More