NBA star LeBron James and business partner Maverick Carter are reportedly in talks with Nike and others to sell their production company SpringHill Company, with a valuation as high as $750m.
Discussions are understood to be at an early stage and could potentially lead to an investment rather than a sale.
James and Carter formed SpringHill Company last year after raising $100m, so if the valuation is correct, they would stand to cash out at considerable profit.
The company was created by merging the existing businesses, the Robot Co. marketing agency, SpringHill Entertainment and Uninterrupted LLC.
In June 2020, SpringHill signed a two-year scripted television deal with Disney-owned ABC Signature, followed by a four-year first-look deal with Universal Pictures in September 2020.
It is the production company behind the Netflix shows The Playbook and Self Made, as well as HBO’s The Shop, NBC’s The Wall and Starz’s Survivor’s Remorse. On the feature film side, it is producing the LeBron James starring vehicle Space Jam: A New Legacy.
The story was first reported by The Information, and subsequently confirmed by Bloomberg.
This news comes a week after reports that another US indie may also be coming onto the market, with actor and producer Reese Witherspoon said to be exploring the possibility of selling her Hello Sunshine production company.
The outfit, which produced HBO’s Big Little Lies and and Hulu’s Little Fires Everywhere is said to have been approached by interested parties and is considering its options. Estimates have placed its price tag as high as $1bn.
Hello Sunshine is owned by Witherspoon alongside her partners, husband Jim Toth and Seth Rodksy. AT&T also holds a minority stake via Otter Media, while other investors include Emerson Collective. Late last year, the company acquired SKR Productions, the producer behind Amazon Prime fashion series Making The Cut.