Reese Witherspoon is buying back her production company, Hello Sunshine, from Candle Media with the help of Mediawan, Variety and Deadline reported on Tuesday.

Mediawan is a content group based in Paris, Deadline reported. Witherspoon said she will invest alongside the company.

"Mediawan has built a global, independent studio by putting creators first. That has always been my vision for Hello Sunshine," Witherspoon said, according to both outlets.

Hello Sunshine co-founder Seth Rodsky will join the company's board along with Witherspoon and people from Mediawan, both outlets reported.

Witherspoon founded Hello Sunshine in 2016 with backing from Peter Chernin and Jesse Jacobs through The Chernin Group, both outlets reported. Its hits include Big Little Lies, The Morning Show, Daisy Jones & The Six and the film Where the Crawdads Sing. Variety said Candle's investment brought the company's value to nearly $1 billion.

Mediawan has been buying many Hollywood companies. Its recent deals include Chernin Entertainment, Brad Pitt's Plan B and See-Saw Films, both outlets reported. Its titles include F1, Slow Horses and Love Is Blind.

"Led by a generational talent in Reese, Hello Sunshine has an extraordinary track record of telling premium stories through film and TV," said Mediawan CEO Pierre-Antoine Capton, according to both outlets.

Candle Media was co-founded in 2021 by Kevin Mayer, a former senior Disney executive, Deadline reported. It was backed by the private equity firm Blackstone. It also bought CoComelon maker Moonbug for nearly $3 billion. Changes in streaming and audio later made the business harder, Deadline reported.

Reese's Book Club will stay a key part of Hello Sunshine, Deadline reported. The club has driven about $900 million in U.S. book sales, Deadline said.

Neither outlet reported a price for the deal.

What we know: Witherspoon and Mediawan are buying Hello Sunshine from Candle Media.
What we don't: How much they are paying.