Reese Witherspoon is selling Hello Sunshine, report says

Reese Witherspoon is selling her media company, Hello Sunshine, to a new venture that’s backed by private-equity firm Blackstone Group Inc., per a Wall Street Journal report. Terms of the deal were not disclosed. WSJ said people familiar with the matter valued the company at approximately $900 million. Witherspoon and Hello Sunshine CEO Sarah Harden will continue to run Hello Sunshine and will join the board of the new company, which will be led by former Disney executives Kevin Mayer and…