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LeBron James and Maverick Carter raise M 100 million for a new media company

LeBron James and Maverick Carter raise M 100 million for a new media company
Barbara C. Arroyo

Basketball superstar LeBron James and his longtime business partner Maverick Carter have reportedly embarked on a new venture to expand their media empire.

Springhill Co. The couple has raised over 100 million to start, which aims to produce content from the underprivileged voices in general. Bloomberg Businessweek reported Thursday.

“When we talk about storytelling, we want to hit a house and hit a lot of houses, where they feel they are a part of that story,” James told the magazine. “And they think, ‘Oh, you know what? I can relate to it. “

As chairman and CEO of Carter, the company combines the duo’s Springhill Entertainment and the uninterrupted LLC, which spawned entertainment projects such as the upcoming “Space Jam” sequel and the HBO talk show, with a marketing agency called Robot Co. According to Business Week.

Springhill emerged on the same day in March as the NBA suspended its season due to the coronavirus pandemic. But the subsequent lockdowns did not hinder the company’s early days – Carter recently signed a TV deal with Disney and has a basketball-themed Netflix film at work, Businessweek reported.

James and Carter reportedly attended the same high school in 2003 when they left to join the Cleveland Cavaliers. The pair worked together on “The Decision,” a live broadcast of James 2010, as he reportedly left Cleveland for the Miami Heat, Business Week reported. They started Springhill Entertainment, which shares its name with the apartment complex in Akron, Ohio, where James grew up.

The pair’s new company is backed by investors including Guggenheim Partners, UC Investments, SC Holdings and News Corp successor Elisabeth Murdoch, tennis legend Serena Williams, Boston Red Sox chairman Tom Werner and LiveNation CEO Michael Rapinoe. Business Week’s long profile says. (News Corporation owns The Post.)

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“This is ultimately an outlook, an organization about the community and the empowerment you serve,” investment banker Paul Watcher, who helped facilitate the project and sat on the board, told Business Week. “It’s an organization designed to move the culture.”

About the author

Barbara C. Arroyo

Barbara C. Arroyo

I'm a writer, editor and newsroom leader working at the intersection of tech and media, editorial and product, journalism and management. I am driven to transform our industry for the future, develop and mentor our people, build compassionate and innovative organizational cultures, and put readers and communities at the center of it all. I also have a love of storytelling and creative work, and refuse to pick one or the other.

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