SpringHill, Fulwell 73 confirm merger with deal backers set to invest $40m
LeBron James (left) and Maverick Carter
LeBron James and Maverick Carter’s media outfit The SpringHill Company and transatlantic production outfit Fulwell 73 have confirmed they are to merge in a deal backed by heavy hitters including RedBird Capital Partners and Nike.
The deal, reports of which began to surface this month,is expected to close before the end of the year.
In addition to RedBird Capital Partners and Nike, the new company will also be backed by partners including Fenway Sports Group, UC Investments, Epic Games, Main Street Advisors and Eldridge Industries. The new company, which remains unnamed, said existing shareholders will invest around US$40m to fuel its growth.
Financial details of the merger were not disclosed, but the companies have positioned it as a combination of equals rather than one acquiring the other. The deal will not see any money changing hands, according to Variety.
LA-based The SpringHill Company, founded in 2020, is behind titles such as The Crossover (Disney+), Rez Ball (Netflix), 2021 sequel feature Space Jam: A New Legacy and basketball documentary series Starting 5 (Netflix).
London-based Fulwell 73, which also has offices in Los Angeles and the UK city of Sunderland, was founded by Ben Winston, Leo Pearlman, Ben Turner, Gabe Turner and James Corden.
The company has produced shows including Carpool Karaoke: The Series (Apple TV+), The Late Late Show with James Corden (CBS) and The Kardashians (Hulu), as well as CBS special Adele: One Night Only and The Grammys. It is also producing a documentary on boyband Take That for Netflix in the UK.
The companies said the merger positions the combined entity to “meet the challenges of a complex market environment while simultaneously building for the future of the industry, ensuring it serves the evolving needs of individual creators, consumers, buyers and brands with a unique and innovative offering.”
It will be focused on television, film and digital content, in addition to live events and brand strategy.
“Since Fulwell 73’s inception, we’ve tried to make content that entertains, informs, and excites, while sparking conversations around the world,” said the Fulwell 73 partners in a statement.
“That’s the mantra at The SpringHill Company as well. 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. We recognise the major shifts underway in entertainment and the world and we’re excited to build a company with The SpringHill Company that’s designed for the future.”
Carter added: “At The SpringHill Company, we’ve always given athletes, artists and brands a platform to tell meaningful and diverse stories in all forms and formats, from digital-native shows and IRL experiences to streamed series and theatrically released movies.
“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. Like everyone, we see the ways audience behavior is shifting and the demands on storytellers are evolving. We are excited for those changes and feel ready to adapt alongside the Fulwell 73 team.”
