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SpringHill, the content and entertainment company founded by LeBron James and Maverick Carter, is in talks a significant investment round, led by RedBird Capital, The Hollywood Reporter has confirmed. There are also other parties to the deal.
As Hollywood undergoes something of an M&A frenzy (see mega-deals like WarnerMedia-Discovery, and acquisitions like Hello Sunshine), SpringHill is looking for capital, rather than an exit. James and Carter have told all parties the company is not for sale or in the market to be acquired, according to someone familiar with the matter.
As such, they are not expected to give up control of the company, which has produced projects like Space Jam: A New Legacy, and the HBO documentary What’s My Name, about Muhammad Ali. It also has projects in development for Netflix and ViacomCBS.
Sportico first reported that the investment was in the works. SpringHill was reportedly talking to potential buyers and investors earlier this summer at a valuation of about $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 the purchase of the XFL, and investing in Casey Wasserman’s Wasserman Media.
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