With Space Jam: A New Legacy on the eve of release, SpringHill Media, a company led and created by LeBron James and Maverick Carter, is in early talks with a range of potential investors to sell minority or majority equity stakes.
First reported by The Information, the media and entertainment firm, which is also behind shows such as HBO’s The Shop, Starz’s Survivor’s Remorse, and the Showtime documentary, Shut Up & Dribble, has been valued at upwards of $750 million.
Interest is high in the company, with parties ranging from streaming-video providers and tech companies to Nike, according to a source familiar with the talks.
SpringHill is not looking to sell itself outright.
In addition to the Space Jam sequel, which Warner Bros. is releasing this Friday, July 16, on HBO Max and in theaters — the company is currently in production on House Party for New Line, as well as the Adam Sandler-led Hustle for Netflix. And on Monday, July 12, ViacomCBS’s Nickelodeon and Awesomeness Films announced an original live-action movie titled Fantasy Football, which will be executive produced by SpringHill Media, in partnership with Genius Entertainment.
The as-yet-to-be casted production is about a 15-year-old girl who discovers she can control her professional football player dad’s prowess on the field through her video game.
Production is set to begin in early 2022.
James and Carter have been incredibly busy getting SpringHill to a vaulted position in the Hollywood production game. The duo, along with investors Guggenheim Partners; Sister; the University of California’s UC Investments; and Jason Stein’s SC.Holdings, consolidated the trio of James and Carter’s companies — SpringHill Entertainment, Uninterrupted and the Robot Co. marketing agency — into a single entity.Add in James’ “lifetime” contract with Nike, reported to be worth $1 billion back in 2015, and SpringHill Media looks to be entering into an unprecedented moment as an enterprise.