they are buying out current investors including at&t reese witherspoon and hello sunshine ceo sarah hardenf this new still unnamed company and will continue to run hello sunshine hello sunshine produces and sells female-driven content across platforms and has a strong record turning books into bestsellers and into hits such as "the morning show," "big little lies" and "little fires everywhere" on hulu. the price tag for the company speaks to the appeal of their female-focused content and the fact there just aren't that many independent studios left out there that can sell content across platforms as most studios are tied up with serving their own streaming platforms. eamon? >> and, julia, that brings up the question with all those independent studios out there who could be acquired next in the wave of acquisitions we may or may not be seeing >> reporter: well, look, i think this is all part of the media consolidation we've seen with the discovery deal and the mgm by amazon. the $1 billion change and lebron james has been working on growing his media company. and there's also, of course, qu

including the hbo hit big little lies and apple tv's good morning show you can catch witherspoon and sarah harden on tech check at 11 a.m. cnbc. >>> on wall street, the dow down 97 s&p down 8 the nasdaq up 8. >>> i'm shepard smith on cnbc. it's the bottom of the hour. time for the top of the news >>> emotional reunions at heathrow airport after tight travel restrictions lifted in the u.k. >>> a tragic ending to a first date a tiktok star dies after being shot at a movie theater. >>> secretary of state blinken announcing a new policy. >> the u.s. opening up the refugee program to even more at-risk afghans as the taliban hunts them down. secretary blinken says afghans who did not qualify for special visas but are in serious danger can apply. for example, that includes afghans who worked for american ngos or media organizations and now have a target on their backs. meantime, violence is escalating in afghanistan as u.s. troops withdraw today the american embassy in kabul accused taliban fighters of massacring dozens of civilians in a series of revenge killings a series of revenge dan deluse covers m

opportunity to extend that relationship with the consumer and that reese, reese witherspoon and sarah hardenof the company have demonstrably achieved so far in media, social media and having connection with the audiencesened a two-way relationship, opportunities for direct to consumer, interactions, and we think this is highly valuable look, we've always been willing to pay for quality over the -- time of my career, bought pixar, marvel, all part of disney. star wars each and every time claimed we overpaid. we like our track record we like the fact we're bringing quality assets into a new company. configured for the digital future and it has enormous growth potential. >> what other types of companies are you looking to buy next? this is only one piece of what you're going to build with this backing from blackstone. tom what types of assets are you looking at say, lebron james media company? what other type things >> great thing about partnering with blackstone, the largest alternative investment company in the world, they have the same conviction we have around this kind of content. so, agai

joining me now to discuss is the founder of hello sunshine, reese witherspoon and the company's ceo sarah harden thank you, both, for joining us here today >> thanks, julia nice to be here. >> so it looks like we're still waiting for reese to join. so, sarah, why don't we start with this deal why does it make sense to sell right now? >> well, i think, you know, we started the company four and a half years ago we set out with a very specific intention of how we wanted to build and i think over the last six to 12 months we really started thinking we're 4 1/2 years into the bill, scaling very quickly and we took a step back and said how do we set ourselves up for the next five to ten years of growth. and, you know, one of the things i love about reese in working with here is that we have a huge ambition for the change that we want to make that this industry. and, you know, i think for us as we look ahead and we have our sights set pretty high, i think what we have starting the conversation with blackstone and kevin and tom, you know, for us it seemed like the right time to really look ahead for the

at about $900 million according to a source familiar now, witherspoon and "hello sunshine" ceo sarah hardenoard of this new company and continue to run hello sunshine, which produces and sells female driven movies and seriesacross platforms lik "the morning show" on apple tv plus and "big little lies" on hbo among others this speaks to the growing demand for content, particularly by streaming platforms as this whole battle in the transformation of the industry plays out. carl >> incredible, kevin mayer is everywhere as well julia, thank you julia boorstin. >>> joining us to weigh in on the debate, cnbc contributor kara swisher good morning good to see you. >> good to see you >> i've been wondering what you made of the johansen lawsuit there was maybe some liabilities. you said on twitter you thought it was a smart take. >> it was an essay in the hollywood reporter pointing out that a lot of the -- a lot of the stuff just because they have done things a certain way doesn't mean they have to and some of the legal language in her contract seems to suggest that disney could do what it wanted to

winning actress and hello sunshine founder reese witherspoon with us along with the company's ceo sarah hardeneastern time sptsetngought here dow up 86. when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative, aren't just made for traders - they're made by them. thinkorswim trading. from td ameritrade. - [narrator] at southern new hampshire university, we're committed to making college more accessible by making it more affordable. that's why we're keeping our tuition the same for all online and campus programs through the year 2022. - i knew snhu was the place for me when i saw how affordable it was, i ran to my husband with my computer and i said, "look, we can do this." - [narrator] take advantage of some of the lowest online tuition rates in the nation. find your degree at snhu.edu. team usa is ready for the olympic games... ...and so is sharon! she got xf

. >> i spoke with reese witherspoon and ceo sarah harden about the sale of their female-focused media company, for what sources tell me is $900 million. witherspoon saying selling to blackstone-backed company will enable them to sell their products, their series and tv shows, across platforms. >> we're just doubling down on our mission. now we have the ability to tell more stories, to hire more female filmmakers, to promote and lift up even more authors. i'm excited to get more involved in digital creators. and it is really -- it is fascinating to see how a company like this, that started just four years ago canreally resonate with audiences. >> a key advantage of the content model is they build direct connections with fans starting with books are published through reese's book club they develop those relationships with fans and develop the books into series and films and keep those relationships going until they're released on streaming services or on other media platforms. now witherspoon and harden are working to expand into new business lines and including kids animation and comme

witherspoon and the ceo sarah harden will continue day-to-day operations and combine the board.erview you don't want to miss. >>> when we come back, a key regulatory decision on the first bitcoin etf. we'll bring you that story after this >> announcer: executive edge is sponsored by at&t business our people and network will help keep you connected let's take care of business. met. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. >>> welcome back to "squawk box. investors are waiting for the s.e.c. to approve an application for what would be the country's first bitcoin etf. there's been talk for years about a bitcoin etf. here we are. we'll see. joining us now is kristin smith. director of the block chain. good morning to you. >> good