SpringHill Co., the media firm formed by LeBron James and Maverick Carter, is in early discussions with a range of potential investors to sell a piece of the company that would value it at upwards of $750 million, Variety confirmed.
The inbound interest from outside parties in SpringHill has ranged across industries. Parties that have engaged with SpringHill on a potential deal have included Nike, as well as streaming-video providers and tech companies, according to a source familiar with the talks.
News that SpringHill was in talks including with Nike about a potential sale was first reported by The Information. However, SpringHill is not looking to sell itself outright. Rather, the company is exploring selling minority or majority equity stakes, sources tell Variety.
A rep for SpringHill declined to comment. Nike did not respond to a request for comment.
The 120-employee SpringHill’s projects include “Space Jam: A New Legacy,” starring James alongside a crew of Looney Tunes favorites, which Warner Bros. is releasing July 16 on HBO Max and in theaters. The company also is currently in production on “House Party” for New Line, as well as the Adam Sandler-led “Hustle” for Netflix.
NBA superstar James and Carter, his longtime business partner, formed SpringHill Co. last year, after raising $100 million. Investors include Guggenheim Partners; Sister, the production company founded by Elisabeth Murdoch, Stacey Snider and Jane Featherstone; the University of California’s UC Investments; and Jason Stein’s SC.Holdings. The new company consolidated the trio of James and Maverick’s companies — SpringHill Entertainment, Uninterrupted and the Robot Co. marketing agency — into a single entity.
SpringHill aims to serve as a multifaceted platform to empower Black creators and audiences. It’s worth noting that Uninterrupted, in addition to its content projects, has an e-commerce line that includes a private-label apparel collection and collaborations with brands that have included Nike.
SpringHill’s executive team includes chief content officer Jamal Henderson, COO Devin Johnson, CFO Louisa Chen, chief marketing officer Paul Rivera, chief creative officer Ricardo Viramontes, general counsel and GM Jennifer Lewis, chief people and culture officer Camille Booth and EVP of strategy and operations Matthew Trunzo.
The SpringHill Co. is represented by WME and Ziffren Brittenham.
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