LeBron James And Maverick Carter Raise $100 Million To Expand Media Empire

LeBron James has done a lot of great things on the basketball court, but he can have an even more impressive summary. He has done a lot for his local communities, including the opening of the I Promise School in Akron, Ohio. The school teaches STEM subjects to primary school students, especially children at risk. Its business empire also continues to grow, moving from endorsements and investments to a more recent media focus.

The latter bucket received a big boost after James and his longtime business partner Maverick Carter raised $ 100 million to expand their brand into a large media conglomerate. Investors include Guggenheim Investments, UC Investments, Sister Investments and SC Holdings.

SpringHill Entertainment will include several divisions, including Ininterrupted. It is the athlete empowerment media and consumer product company that James promoted through episodes with other players. SpringHill Entertainment will also introduce a cultural brand agency Robot Company and a production company.

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According to Bloomberg Businessweek, the deal closed on March 11 – the same day the NBA broke its season after Utah jazz center Rudy Gobert tested positive for coronavirus. News of the deal, however, remained secret until then.

James already has ten producer credits to his credit, including that of executive producer in shows The wall and Survivor’s remorse, who both have at least four seasons on the air.

SpringHill Entertainment has several projects underway. They include a television production agreement with Walt Disney and a basketball movie with Adam Sandler for Netflix. The company will also produce the next Space jam sequel, which will feature James.

In the end, James wants to use his platform to tell stories and help others tell theirs.

“When we talk about storytelling, we want to be able to strike at home, strike many homes where they feel they can be part of this story,” James said in the interview with Bloomberg. “And they feel like, Oh, you know what? I can understand that. It’s very organic for our education.”

In an Instagram post, James credited his team of 64% people of color and 40% women for helping SpringHill Entertainment secure this investment.

Check out the full Instagram post below:



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