Why Kevin Mayer and Tom Staggs Think Reese Witherspoon’s Hello Sunshine Is Worth $900 Million

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Why Kevin Mayer and Tom Staggs Think Reese Witherspoon’s Hello Sunshine Is Worth $900 Million
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The merger frenzy in Hollywood moved to a new level this week when Reese Witherspoon’s Hello Sunshine was bought for a stunning $900 million by a pair of former Disney executives, Tom Staggs and Kevin Mayer, for their new as-yet-nameless Blackstone-backed media company. Staggs and Mayer, who also are part of the tidal wave of SPACs that have popped up over the last year, are seeking to create a company that will roll up a number of independent content companies, with Witherspoon’s Hello Sunshine as the first in their fold, they told TheWrap in an interview. The two explained the staggering valuation they placed on a company that has produced hits like HBO’s “Big Little Lies,” Hulu’s “Little Fires Everywhere” and Apple TV+ series “The Morning Show” — but doesn’t actually have an extensive library of content that it owns. And they talked up the e-commerce strengths, and potential, of Reese’s Book Club with its 2.5 million subscribers. Hours after the deal was announced, TheWrap caught up with Staggs and Mayer to talk about how Hello Sunshine’s multifaceted approach to media consumption fits their goals of creating a “well-balanced future-proof” media company. (Just don’t call it a studio.) The following...

Read original story Why Kevin Mayer and Tom Staggs Think Reese Witherspoon’s Hello Sunshine Is Worth $900 Million At TheWrap

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