“100M’s later … NOW you understand US!”
The tweet Lebron James sent out after the deal was announced that he and business partner/friend Maverick Carter will be forming a new media company, SpringHill Co., which will be supported by a $100 million funding round. The deal happened ironically on March 11, the day Utah Jazz center Rudy Gobert tested positive for Coronavirus putting a pause to the NBA season. With the funding James and Carter are bringing SpringHill Entertainment, Uninterrupted LLC, and the marketing company Robot Co. all under one tent to distribute all forms of content according to Bloomberg Newsweek. SpringHill is billed as “a media company with an unapologetic agenda – a maker and distributor of all kinds of content that will give a voice to creators and consumers who’ve been pandered to, ignored, or underserved.”
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Big news‼️ Announcing the next chapter as THE SPRINGHILL COMPANY: a media company with an unapologetic agenda – a maker and distributor of all kinds of content that will give a voice to creators and consumers who’ve been pandered to, ignored, or underserved. 📸 @edeani
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James told Bloomberg, “when we talk about storytelling, we want to be able to hit home, to hit a lot of homes where they feel like they can be a part of that story.” This is crucial for the disenfranchised communities because stories they relate will now be displayed more than ever. Other moves are also being made by the company, they already signed a TV production deal with Walt Disney Co. and is working with Netflix on a basketball-themed movie starring Adam Sandler, according to Bloomberg. SpringHill Entertainment is the company behind NBC’s “The Wall” and the Space Jam sequel “Space Jam: A New Legacy” which is set to hit theaters in 2021. Uninterrupted also brought “The Shop” to HBO through partnership with Bleacher Report. “I’ve always wanted to use the platform of basketball to empower those around me. Now I’m incredibly excited about the opportunity to build a company that empowers creators, consumers, and everything it touches,” James said in a statement. “The SpringHill Company defines empowerment. You see it in the team we’ve built, the stories we tell, and the community our work will serve.”
James will reportedly serve as chairman with Carter serving as CEO. Joining the two on the board are Elisabeth Murdoch, Guggenheim’s Scott Minerd, Serena Williams, Apollo Global Management co-founder Mark Rowan, Live Nation Entertainment CEO Michael Rapino, Boston Red Sox chairman Tom Werner and investment banker Paul Wachter. It is beautiful to see what LeBron and Maverick have done with their media platform to this point. We truly look forward to what they have coming in the future. Salute to Lebron James and Maverick Carter.
Sports & Culture Editor for SWGRUS.