LeBron James’ SpringHill Nears Strategic Investment From Group Led by RedBird Capital

LeBron James’ SpringHill Nears Strategic Investment From Group Led by RedBird Capital
LeBron James’ content company SpringHill is in advanced talks to secure a significant strategic investment from a consortium including Fenway Sports Group, RedBird Capital and Nike, insiders told Variety.

While the NBA legend and his longtime business partner Maverick Carter have expressly told potential suitors they are not looking for a full acquisition, sources said the new investment partners would flush the operation with cash and value the entity between $650 million and $700 million. A representative for SpringHill did not immediately return requests for comment.

While this deal will be structured differently from, say, the recent $900 million transaction around Reese Witherspoon’s Hello Sunshine, it places SpringHill firmly in the mix of the M&a craze consuming Hollywood.

Nike was previously reported to be eyeing the shop that helped make “Space Jam: A New Legacy,” but the arrival of RedBird and Fsg to the table alludes to James and Carter’s ambitions.
See full article at Variety »

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