LeBron James' SpringHill to merge with "The Kardashians" producer
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LeBron James' production firm the SpringHill Company has agreed to merge with Fulwell 73, the U.K.-based production company behind "The Kardashians," the firms said Monday.
Why it matters: The deal gives both companies scale and global reach at a time when the entertainment industry is under enormous pressure to evolve.
Catch up quick: The SpringHill Company, co-founded by NBA legend James and Maverick Carter, launched in 2020 with a focus on sports-based entertainment and documentaries.
- SpringHill sold a minority stake at a $725 million valuation to an investor group led by RedBird Capital Partners in 2021.
- Founded in 2005, Fulwell 73 has made a name for itself in reality and pop culture TV and special programming. In addition to "The Kardashians," it also produced James Corden's "Late Late Show" and his "Carpool Karaoke" series.
- Corden is one of Fulwell 73's five partners.
Zoom in: The combined company, which has yet to be named, will initially focus on television and film production and digital content creation through SpringHill's New York-based brand consultancy firm Robot, the companies said in a statement.
- Financial terms of the merger were not disclosed.
What they're saying: "We found like-minded partners in Fulwell 73, partners who understand this business and the critical importance of building opportunities for talent across the media and entertainment landscape," SpringHill's Carter said in a statement.
- "Together, we'll continue doing what we do best, and now we'll do it as a global entertainment studio with more to offer our partners," said Fulwell 73 partners, which in addition to Corden, include Ben Winston, Leo Pearlman, Ben Turner, and Gabe Turner.
The big picture: Hollywood production studios have had to refocus their businesses and increasingly consolidate in response to consumer habits shifting toward digital and second-screen experiences.
- Major talent agencies also had to shift and merge to prepare for the new entertainment reality.
