SpringHill, the content and entertainment company founded by LeBron James and Maverick Carter, is in talks for a major investment round, led by RedBird Capital, Hollywood journalist confirmed. There are also other parties to the case.
While Hollywood is experiencing a mergers and acquisitions frenzy (see mega-deals like WarnerMedia-Discovery and acquisitions like Hello Sunshine), SpringHill is seeking capital rather than an exit. James and Carter have told all parties that the company is not for sale or in the market to acquire, according to a person familiar with the matter.
As such, they are not supposed to relinquish control of the company, which produced projects like Space Jam: a new legacy, and the HBO documentary What is my name, about Mohammed Ali. He also has projects in development for Netflix and ViacomCBS.
Sportico first reported that the investment was in the works. SpringHill reportedly spoke to potential buyers and investors earlier this summer for a valuation of around $ 750 million.
RedBird, led by Gerry Cardinale, has also been active in the media space, investing in Skydance, joining Dwayne Johnson and Dany Garcia in buying the XFL and investing in Casey Wasserman’s Wasserman Media.