Another huge win for Black media!
LeBron James and business partner Maverick Carter just secured $100 million for their new media company, CNN Business reports.
James and Carter announced their new media company, SpringHill Co., this week, merging James’ marketing agency, Robot Co. with their entertainment businesses, SpringHill Entertainment and Uninterrupted LLC. The latter companies have already been responsible for a number of endeavors, including NBC game show “The Wall,” and the upcoming “Space Jam” sequel. In order to continue the work they’re doing, the business partners secured $100 million in funding to bring the new company to life.
“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. And they feel like, Oh, you know what? I can relate to that. It’s very organic to our upbringing,” James told Bloomberg Businessweek.
Carter will serve as CEO with James as chairman, with a bevy of established board members including entrepreneur and tennis phenom Serena Williams. The new company touts itself 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.” The two have already inked a TV production deal with Walt Disney Co. and a partnership with Netflix to produce a basketball themed movie starring Adam Sandler.
James took to social media to share his excitement about the new company, saying, “Incredibly proud of [this] announcement! We started building this company almost five years ago and while I love every project we do and every story we tell…I’m most proud of our team and the message we are sending. Over 100 employees with 64% people of color and are 40% female in an industry that averages 25% (we will get to 50%). Our leadership team is a reflection of our entire organization. I want to thank everyone at The SpringHill Company for believing in our vision! We closed this deal in March and I knew our work was going to keep getting more and more necessary. Let’s continue empowering others and striving for change and greatness.”
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Congratulations LeBron and Maverick! You two are the dream team!
Photo Courtesy of Ike Edeani/Bloomberg Businessweek