LeBron James, Maverick Carter raise $100M for new media company

LeBron James and his business partner Maverick Carter raised $100 million to form a media company, which aims to give a platform for black creators and consumers.

James and Carter, who is also the Los Angeles Lakers superstar’s agent, formed Springhill Co. the day after the NBA shut down because of the coronavirus pandemic in March, Bloomberg Businessweek reported Thursday. The two previously talked about the idea during Lakers practice in February.

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James and Carter described their business as a "house of brands," according to Bloomberg. They see it as a Disney-like storytelling company with the "coolness" of Nike and the social impact of Patagonia.

"When we talk about storytelling, we want to be able to hit home, to hit a lot of homes where they feel like they can be a part of that story. And they feel like, Oh, you know what? I can relate to that. It’s very organic to our upbringing," James told the outlet.

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Carter added: "When you grow up in a place like where we were, no matter how talented you are, if you don’t even know that other things exist, there’s no way for you to ever feel empowered because you’re like, I’m confined to this small world. That’s our duty. A lot of exposure."

As the world seemingly came to a standstill, Carter was in Zoom meetings. He reportedly signed a TV production deal with Disney and is working with Netflix on a basketball movie starring Adam Sandler.

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According to Bloomberg, Springhill is consolidating the marketing agency Robot Co. with SpringHill Entertainment and Uninterrupted LLC. Springhill Entertainment is the company behind an NBC game show and the upcoming "Space Jam" sequel. The Uninterrupted, which has partnered with Bleacher Report, and produced "The Shop" on HBO.