Apple Decided Not to Buy Reese Witherspoon's 'Hello Sunshine' Media Company

Reese Witherspoon's media firm "Hello Sunshine", was recently in the market for buyers. While Apple was interested in purchasing Hello Sunshine, the Cupertino-based company didn't go through with the acquisition.Hello Sunshine was valued around $900million thanks to its participation in popular series such as "Big Little Lies" and "Little Fires Everywhere." If a deal had been made, it would have been Apple's largest media acquisition to date.Hello Sunshine will be purchased instead by a new media venture that is being managed by two ex-Disney executives and backed by Blackstone Group. According to The Wall Street Journal the purchase was part of a plan for building an independent entertainment company.Although it is not clear how much Hello Sunshine was paid, Reese Witherspoon will join the board and continue operating the company.Although Apple didn't purchase Hello Sunshine, they will continue to collaborate. Hello Sunshine is responsible to "The Morning Show" as well as "The Last Thing He Told Me" featuring Julia Roberts. It is also involved in several upcoming Apple TV+ projects, including "Surface", starring Gugu Mabatha-Raw and "The Last Thing He Told Me", and "My Kind of Country," a country music reality show.According to recent rumors, Apple may be looking at other acquisition opportunities. A24 is one of those possibilities. A24 is a film studio that has produced hit movies such as "Hereditary," “Moonlight," and "Lady Bird," in addition to a content agreement with Apple.A24 and Apple have partnered in "Mr. Corman", "On the Rocks", and other upcoming films like "Sharper," The Sky is Everywhere," The Tragedy of Macbeth," and "Bride."