3/2/2024 0 Comments Springhill companyFor decades, he’s seen athletes get involved in the movie and TV business, typically on-screen. “I’ve been in Hollywood since Superman was a boy,” said Boyd, a professor at the University of Southern California. But he sees something different in LeBron James and SpringHill Company, the production entity at the forefront of James’ growing media empire. Todd Boyd has been watching athletes and the entertainment industry for decades. © 2023 NYP Holdings, Inc.LeBron’s Power Plays is an occasional series examining LeBron James’ two decades in the NBA and how he has influenced both professional sports and the larger culture. SpringHill, which was co-founded by James and Carter in 2008, said it will also produce shows for Epic Games and Fenway Sports Group as part of the deal. “With this new group of investors who are the very best in their respective industries we are going to be able to empower our community and every creator to do their most inspiring work and achieve their most ambitious dreams.” The SpringHill deal deepens James’ ties to Nike, his life-long sponsor. “We started this company with the tagline ‘More Than an Athlete’ which still defines everything we do to this very day,” said James’ business partner and SpringHill CEO Maverick Carter. Now, SpringHill will produce programming with Nike featuring athletes who have deals with the sneaker and sportswear company. SpringHill reportedly reached breakeven and is projecting revenues of between $150 million and $200 million in 2022.įor James, the deal will further strengthen his relationship with Nike, with which he inked a “lifetime” contract in 2015. The publication added that SpringHill is expected to generate more than $100 million in revenue over the year. NBAE via Getty ImagesĪccording to The Wall Street Journal, Carter and James, who serves as chairman of SpringHill, will remain largest shareholders with a supermajority of voting shares. Los Angeles Lakers star LeBron James sold a minority stake to a consortium of investors that includes long-time sponsor, Nike. SpringHill, which is known for TV shows and movies such as “Space Jam: A New Legacy,” “The Shop” and “Shut Up and Dribble,” said it will use the cash infusion to launch new shows, expand its programming in new countries via licensing its programming and invest in emerging creators, among other things. In recent months, Reese Witherspoon sold a majority stake in her production firm “Hello Sunshine” for $900 million, while Will Smith’s production company WestBrook held deal talks. News of the transaction leaked this summer amid frenzied deal talks in the media space fueled by an insatiable demand for programming as streaming services expand. The group of investors includes Nike, Epic Games, creator of the popular battle royale game “Fortnite,” private equity firm RedBird Capital Partners and Fenway Sports Group, the parent company of sports teams like the Boston Red Sox. SpringHill, the entertainment company co-founded by NBA star LeBron James, is selling a minority stake to a group of high-profile investors in a deal that values the business at $725 million, the companies said Thursday. LeBron James hits ridiculous 3-pointer over Victor Wembanyama in their first matchupīronny James makes USC debut less than five months after cardiac arrest with LeBron cheering on The latest disturbing acts by Draymond Green, LeBron James show media will never stop embracing them LeBron James’ ‘amazing’ longevity stands out to Knicks vet
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