LeBron James, right, and Maverick Carter participate in a question-and-answer session following the premiere of the STARZ original series “Survivor's Remorse” in Los Angeles.
Matt Sayles | AP
Los Angeles Lakers star LeBron James' entertainment company, SpringHill Co., has agreed to a merger of equals with Fulwell 73, the British television, film and music production company behind shows like “The Kardashians” and “Carpool Karaoke.”
The deal was led by SpringHill co-founder Maverick Carter and Fulwell 73 co-founder Ben Winston, who have been friends for a decade after veteran TV producer Tom Werner introduced them, the two said in an interview with CNBC. Carter will become co-CEO of the combined company, along with Leo Pearlman, Fulwell's managing partner.
SpringHill has largely focused on sports content, producing “Starting 5,” a ten-parter Netflix sports docuseries that follows James and other NBA players through the 2023-2024 season, and “Hustle,” a 2022 sports comedy-drama film starring Adam Sandler. The deal will give James' company more scale to make bigger deals with media companies and streaming platforms, Carter said.
“[Fulwell] is making shows that we always wanted to do, and we just didn't have that opportunity, in terms of unscripted productions around the world, at full scale,” Carter said.” Now that jealousy disappears.
Carter and Winston first started talking about their merger about 13 months ago in a parking lot after having dinner together, said Winston, who added that he always admired SpringHill's ability to combine branding and content. The combined companies will use SpringHill's New York-based brand consultancy Robot to pursue other business opportunities from their series and films, Winston said.
“It's just a smart way to run an entertainment business in 2024,” Winston said of the combination of commerce and content in SpringHill.
The combined companies will be backed by investors including Fenway Sports Group, RedBird Capital Partners, UC Investments, Nike, Epic Games, Main Street Advisors and Eldridge Industries. As part of the transaction, existing shareholders will invest an additional $40 million to fuel growth initiatives, the companies said in a press release.
