LeBron James’ media company, SpringHill, has announced a major merger with British production giant Fulwell 73, known for creating hits like “The Kardashians” and “Carpool Karaoke.”
SpringHill, co-founded by James, who is worth an estimated $1,2 billion, and his longtime business partner Maverick Carter, has produced a number of sports-related content, such as Netflix’s “Starting 5” and the Adam Sandler-starring film “Hustle.” Fulwell 73, led by Leo Pearlman and Ben Winston, has a reputation for delivering pop culture content.
Carter, SpringHill’s CEO, will serve as co-CEO of the combined entity alongside Fulwell’s Pearlman. “We’ve always focused on giving athletes, artists, and brands a platform for meaningful storytelling,” Carter said in a press release. “Partnering with Fulwell 73 strengthens our ability to produce culturally relevant programming and meet the demands of shifting audience behaviors.”
The merger comes with backing from investors like Fenway Sports Group, Nike, Epic Games, and RedBird Capital Partners. These stakeholders have pledged an additional $40 million to support growth initiatives.
Carter and Winston first began chatting about a possible merger about 13 months ago in a parking lot after having dinner together, according to Winston, who added he always admired SpringHill’s ability to blend branding and content. The combined companies will use SpringHill’s New York-based brand consultancy firm Robot to build other business opportunities off of its series and films, Winston said.
“It’s just a smart way of running an entertainment company in 2024,” Winston said of SpringHill’s blending of commerce and content.
Devin Johnson, who has served as SpringHill’s president, played a pivotal role in transforming the company into a multi-platform media leader. But Johnson announced his departure, calling this merger the “right time” to step away, Johnson said on his LinkedIn page. Under his leadership, SpringHill grew into a powerhouse valued at $725 million as of October 2021.
