LeBron James and his business partner have secured $ 100 million (£ 90 million) in investments for their media business which aims to empower black audiences.
SpringHill Entertainment, is chaired by James with business partner Maverick Carter as CEO. Serena Williams is on the board of directors.
He describes himself as a media company with an excuse-free program that will give voice to creators and consumers.
The company got its name from the Ohio apartment complex where James grew up.
Funding for SpringHill Entertainment closed in March but was announced on Thursday, according to Variety.
The company is the result of three merged projects – the production company SpringHill Entertainment, the digital media company Uninterrupted and the Robot Co, a marketing agency.
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James said his team includes more than 100 employees, “64% of people of color and 40% of women in an industry that averages 25%.”
In a statement, James said, “I always wanted to use the basketball platform to empower those around me. Now, I’m incredibly excited about the opportunity to build a business that empowers creators, consumers and everything it touches.
“The SpringHill company defines empowerment. You see it in the team we have built, the stories we tell and the community that our work will serve. ”
SpringHill Entertainment is already working on a basketball movie with Netflix. He should introduce Adam Sandler.