LeBron James and Maverick Carter’s The SpringHill Company is reportedly in early talks to sell the entertainment venture — or a piece of it — at a valuation of US$750 million, The Information first reported Tuesday (July 13).
Nike Inc. is reportedly one of the potential bidders, but sources told trade publication Variety that SpringHill isn’t looking to sell itself outright and is instead exploring selling minority or majority equity stakes.
The Information also reported it was possible discussions could lead to an investment rather than a sale.
According to Variety, other potential bidders include streaming-video providers and tech companies.
The news was also confirmed by Bloomberg sources. A SpringHill representative declined to comment in response to a request from Realscreen.
James (pictured) and Maverick united SpringHill Entertainment, The Robot Company and Uninterrupted in June 2020 to form The SpringHill Company, with backing from investors.
SpringHill has been highly active in the unscripted and documentary space, with projects such as Dreamland: The Rise and Fall of Black Wall Street, in partnership with CNN Films; NBC game show The Wall; Disney+ series Becoming (which secured a nomination for the upcoming 73rd Emmy Awards); Quibi’s I Promise; and Showtime’s Shut Up and Dribble, among others.
The SpringHill Company’s leadership includes CEO Maverick Carter, chief content officer Jamal Henderson, chief operating officer Devin Johnson, chief creative officer Ricardo Viramontes, general counsel and general manager Jennifer Lewis, and EVP of strategy and operations Matthew Trunzo.