LeBron James and Maverick Carter have secured a $100 million USD investment in their new media company, called Springhill Co. Described as an “unapologetic agenda” that will “give a voice to creators and consumers who’ve been pandered to, ignored, or underserved,” the company is comprised of more than 100 employees, “64% people of color and 40% female in an industry that averages 25%,” James says. The major backing came from companies like Guggenheim Investments and UC Investments, Jason Stein’s SC.Holdings and media executive Elisabeth Murdoch.
The media company, named after the apartment complex in Akron, Ohio where James was raised in, aims to amplify marginalized voices and empower Black audiences. “I’ve always wanted to use the platform of basketball to empower those around me,” said James in a statement. “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 and Carter formed the new company on March 11 by merging production company SpringHill Entertainment, digital media company Uninterrupted LLC and marketing agency Robot Company. The board overseeing Springhill Co. will include Serena Williams and Boston Red Sox chairman Tom Werner, while James will be chairman of the board and Carter the CEO.
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