LeBron James and Maverick Carter’s SpringHill Company Raises $100 Million in Funding for Black Content

LeBron James and Maverick Carter have always been about that action and today, they took that up a notch.

The two announced the formation of the SpringHill Company, their new media conglomerate designed to empower diverse creators and audiences whose voices have been marginalized.

Per Bloomberg’s Jason Kelly, SpringHill Entertainment has received investments from Guggenheim Partners LLC, UC Investments, Sister, and SC. Holdings to reach the $100 million thresholds.

Incredibly proud of today’s announcement! We started building this company almost 5 years ago and while I love every project and story we tell…I am most proud of our team. 100+ employees, 64% people of color and 40% female in an industry that avg 25%. https://t.co/UqPTJ341Xz

— LeBron James (@KingJames) June 25, 2020

Our leadership team is a reflection of our entire organization. I want to thank everyone at The Springhill Company for believing in our vision! We closed this deal in March and I knew our work was going to keep getting more and more necessary. Let’s continue greatness. ?? pic.twitter.com/O3jQR47bjf

— LeBron James (@KingJames) June 25, 2020

SpringHill is named for the Akron apartment complex where James and his mom moved when he was in sixth grade.

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James is chairman of SpringHill, while Carter serves as CEO. Board members include tennis star Serena Williams, Live Nation CEO Michael Rapino and Boston Red Sox chairman Tom Werner.

“I’ve always wanted to use the platform of basketball to empower those around me. Now I’m incredibly excited about the opportunity to build a company that empowers creators, consumers, and everything it touches. The SpringHill Company defines empowerment. You see it in the team we’ve built, the stories we tell, and the community our work will serve,” James said in a release.

SpringHill consolidates James and Carter’s other media ventures — SpringHill Entertainment, which has produced shows for NBC, Netflix, ESPN and Quibi; Uninterrupted, an athlete-centric brand that produces content and merchandise; and the Robot Co., a marketing agency — under one umbrella.

James and Carter continue to evolve and raise the bar of what black excellence truly means.