By Sabrina Lynch
- Lebron James’ Production Studio valued at $725M is in merger talks with Grammys and Kardashian’s production company
- The production company behind The Kardashians experienced a 12M loss and is looking to expand its portfolio
Los Angeles Lakers superstar LeBron James continues to build his legacy off the court with his media company potentially merging with the production studio behind “The Kardashians.” Founded in 2020 by James and sports-marketing businessman Maverick Carter, SpringHill is in talks to join forces with British company Fulwell 73, who produce the Grammy Awards and the unscripted reality show “The Kardashians.” The merger would be a big win for Fulwell 73 who experienced a $12 million loss, despite the success of several sports projects including Netflix’ docuseries Captains of the World, and Universal’s documentary about long distance runner Mo Farah.
Why This Matters: The film and TV industry is experiencing a slowdown with production levels hitting real low levels. In Q2 of this year, the number of US productions was 40% lower than the same period two years ago, and globally there was a 20% decline. Valuations for production companies and studios have taken a hit too as companies in Hollywood reigned in their spending. Joining forces will put SpringHill and Fulwell 73 in a position to make additional mergers and acquisitions a key part of their business growth strategy, whilst creating thousands of jobs for the entertainment industry. We’re witnessing James and Carter negotiating a clear runway to high ratings among American-African audiences, who have a higher engagement rate with sport content that are documentaries or highlights than any other population.
What’s Next: Celebrity-led production companies are en vogue right now and acquiring high valuations due to the surge in spending from new streaming services. This includes sports clubs who are increasingly establishing their own TV channels and online multi-screen platforms. The market is ripe for the picking as the entertainment industry is projected to grow to $61.74 billion by 2029– a fact that many of Lebron’s friends are taking advantage of, such as Kevin Durant and Stephen Curry who have started their own media companies too to diversify their business portfolios.
CBX Vibe: ‘Blazin‘ Nicki Minaj, Kanye West
