Candle Media

“Reese Witherspoon and France's Mediawan agreed to buy back Witherspoon's production firm Hello Sunshine from Blackstone-backed Candle Media.”

“Hello Sunshine was valued at $900 million when Candle acquired a control stake in 2021, but Axios has learned that the new deal is for just 'a fraction' of that amount (low-to-mid eight figures).”

“The sale reflects Candle's shift away from its original plan to build an integrated media company and eventually sell it or take it public. Instead, the company is focusing on operating — and potentially selling — its individual brands.”