LeBron James and Maverick Carter Raise $100 Million To Launch Media Company

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NBA star, LeBron James, is not only dominating on the basketball court but now also in the media world. According to Bloomberg, the 3x NBA Finals MVP and business partner, Maverick Carter, secured a $100 million investment for their new media company SpringHill Co.!

The company strives to create content for people who are underrepresented in TV and film. It was named after James’ childhood apartment complex in Akron, Ohio.

“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,” James told Bloomberg. “And they feel like, ‘Oh, you know what? I can relate to that. It’s very organic to our upbringing.’”

SpringHill Co. has been in place since March 11, when the NBA announced they’re suspending the season due to COVID-19.

“Incredibly proud of today’s announcement!” James shared on Instagram. “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.”

This is only one of many business companies for James. SpringHill Co. will be combined with SpringHill Entertainment and Uninterrupted LLC.

“Over 100 employees with 64% people of color and are 40% female in an industry that averages 25% (we will get to 50%),” James added. “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.”

Investors of the new company consist of UC Investments, SC Holdings, News Corp, and Guggenheim Partners. Serena Williams and investor Paul Wachter are said to be a part of the board.