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Tuesday, April 16, 2024
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The SpringHill Company Explores Sale at $750M Valuation

  • The production house and entertainment firm might be a target acquisition for Nike.
  • LeBron James and Maverick Carter co-founded the company.
Kim Klement-USA TODAY Sports/Design: Alex Brooks

A bevy of well-known properties live within LeBron James’ production house and entertainment firm, The SpringHill Company — “Space Jam: A New Legacy,” media platform Uninterrupted, and HBO’s “The Shop,” to name a few.

On Tuesday, The Information reported that the company is exploring a possible sale at a valuation of up to $750 million. Nike is said to be among the suitors.

There’s a chance that the conversations spur an investment rather than a sale, and talks are said to be in very early stages, with SpringHill not having yet opened a formal process.

Last June, the company secured $100 million in funding from a who’s who of investors:

  • Investment and advisory firm Guggenheim Partners
  • University of California’s UC Investments
  • News Corp. heir Elisabeth Murdoch’s production company Sister
  • Entrepreneur Jason Stein’s investment fund SC.Holdings

James scored his first major equity payout when Beats by Dre sold to Apple for $3 billion in May 2014. He’d taken a stake in Beats in 2008 in exchange for promotion and pocketed $30 million from Apple’s acquisition.

Earlier this year, Forbes reported that James will reach billionaire status by the end of 2021.

Editor’s Note: SC.Holdings is an investor in FOS.

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