LeBron James' Hollywood company SpringHill valued at $725 million in new deal [Los Angeles Times (CA)]
Comcast Corporation - Class A (CMCSA)
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Source: Los Angeles Times
LeBron James’ Hollywood ambitions are getting a major financial alley-oop. James’ entertainment firm, the SpringHill Co. , has secured a private equity-led investment to fuel the Los Angeles Lakers star’s growth in film, TV, video games, consumer products and live events. The SpringHill Co. on Thursday said it has made a deal for a group led by New York-based RedBird Capital Partners to acquire a significant minority stake in the company, known for shows including “The Shop” on HBO and the recent Warner Bros. film “Space Jam: A New Legacy.” Participants in the deal include Boston Red Sox owner Fenway Sports Group, apparel brand Nike and “Fortnite” maker Epic Games. The deal values Los Angeles-based SpringHill at $725 million. Other financial details of the transaction were not disclosed, but people familiar with the terms said the RedBird-led group will own nearly half the company and put in nine figures’ worth of capital to grow the business, with the potential for more money later o
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