NEW YORK, July 7 (Reuters Breakingviews) - Hollywood star Reese Witherspoon may soon be trying on a new hat. She is exploring a sale of Hello Sunshine, the media company that she founded and which produces TV series “The Morning Show,” according to the Wall Street Journal. Apple (AAPL.O) is circling and the price tag could reach $1 billion, the newspaper reported, even though the financial plan is to be profitable for the first time this year. The “Legally Blond” actor is smart for wanting to cash in on the content bubble. Take Amazon.com (AMZN.O), which just bought MGM movie studio for $8.5 billion, representing some 28 times adjusted EBITDA last year. While that’s nearly twice as much as rival studio Lions Gate Entertainment (LGFa.N) is worth, Amazon only has half the rights to the marquee James Bond franchise and doesn’t fully own other older film titles either. AT&T’s (T.N) HBO Max division paid $425 million for a five-year deal to air “Friends” – 5 times more than Netflix (NFLX.O) stumped up in an earlier agreement. If Witherspoon manages a sale, it will be an Oscar-worthy performance. (By Jennifer Saba) On Twitter http://twitter.com/breakingviews Capital Calls - More concise insights on global finance: Wise’s $11 bln value implies turbocharged growth Dufry could whet Autogrill’s M&A appetite read more Bank investors are at the vanguard of climate push read more Nomura extends prime broker woes read more Weibo take-private talk stirs Sina holdouts read more