RedBird also owns a share of the Fenway Sports Group, which owns the Red Sox baseball team and the soccer team, Liverpool Football Club.įormer Goldman Sachs partner Gerry Cardinale founded RedBird in 2014 and has known James and Carter for more than 10 years.Ĭardinale said, “The goal is to create a multibillion-dollar diversified culture and content company, and I think that puts it in a pretty unique position. RedBird’s portfolio includes YES Network, Skydance Media and the XFL. Industry insiders believe RedBird and SpringHill fit well together because RedBird invests heavily in sports and entertainment. Amazon is trying to acquire James Bond producer Metro-Goldwyn-Mayer Studios for $8.45 billion, pending regulatory approval.” “Reese Witherspoon’s Hello Sunshine, the entity behind ‘Big Little Lies’ in August received a major investment from the firm formed by ex-Disney executives Kevin Mayer and Tom Staggs and private equity giant Blackstone, valuing the firm at more than $900 million. Media companies have been hungry to build streaming services with fresh shows and movies. The Los Angeles Times reported, “The SpringHill deal is the latest high-profile production company investment amid a gold rush for content in the entertainment industry. will earn more than $100 million in revenue over the next 12 months. Over the last 12 months, SpringHill earned about $60 million in sales.Ĭarter said, with this investment from RedBird Capital Partners, he believes that SpringHill Co. ![]() We’re going to build up our physical production arm so we’ll be able to finance and control the production of the things we make, so when we talk empowering creators, we can really leave creators in control.” He said the new partnership will allow SpringHill to produce more original content across various media platforms, invest in intellectual property and acquire other production companies.Ĭarter said, “We’ll be able to finance our own projects. The controlling stake in SpringHill still belongs to James, who serves as SpringHill’s chairman, and James’ childhood friend, high school teammate and business partner Maverick Carter, who holds the position of Chief Executive for SpringHill Co.Ĭarter hails from James’ hometown of Akron, Ohio and handles James’ business deals. RedBird Capital Partners also has the option to invest more money into SpringHill Co. ![]() SpringHill has recently found success in Hollywood with movies like “Space Jam: A New Legacy” and the HBO talk show “The Shop.”Īlthough the companies did not make details of the business deal public, insiders said the deal gives the RedBird Capital Partners-led group close to 50 percent of SpringHill.Īdditionally, RedBird Capital Partners will invest nine figures into SpringHill to assist in the growth of the company. The deal values Los Angeles-based SpringHill at $725 million.” ![]() The Los Angeles Times reported, “Participants in the deal include Boston Red Sox owner Fenway Sports Group, apparel brand Nike and ‘Fortnite’ maker Epic Games. 14, SpringHill said it had completed a business deal, led by New York-based RedBird Capital Partners to obtain a sizable minority stake in their company. The entertainment company received a private equity-led investment to expand the company’s production of movies, television shows, video games, consumer products and live events. Pictures).īasketball icon LeBron James continues his path to media mega-mogul after a business deal raised the value of his SpringHill Co., a movie and television production corporation, to $725 million. LeBron James’ SpringHill entertainment company produced the remake of “Space Jam” (Photo Credit: Warner Bros.
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