Blackstone is exploring various options, including a merger, for Hello Sunshine.

Blackstone is exploring various options for Hello Sunshine, a key asset in Hollywood media company Candle Media's portfolio. According to a report by Reuters on Wednesday, these options include a potential merger with another company. Candle Media gained attention when it acquired the women-focused entertainment company Hello Sunshine, founded by Reese Witherspoon, in 2021. Hello Sunshine is known for producing popular series such as Apple TV+'s "The Morning Show" and Amazon's "Daisy Jones & The Six."

Like many independent production companies, Hello Sunshine has faced challenges due to reduced spending from streaming services and Hollywood strikes halting productions. Despite these obstacles, the company has maintained profitability through a diversified business model, which includes its in-house social agency Solar, the annual Shine Away event, and Reese’s Book Club. According to Reuters, Blackstone and Candle Media executives are currently exploring strategies to expand Hello Sunshine's reach and scale, potentially involving a merger with another studio. However, sources indicate that Blackstone is not actively evaluating offers at this time.