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LeBron James Announces Major Investment In Company

LeBron James dribbles the ball up the floor at STAPLES Center.

LOS ANGELES, CALIFORNIA - DECEMBER 01: LeBron James #23 of the Los Angeles Lakers move the ball down the court during a game against the Dallas Mavericks at Staples Center on December 01, 2019 in Los Angeles, California. (Photo by Katharine Lotze/Getty Images)

Los Angeles Lakers star LeBron James and longtime business partner Maverick Carter announced the formation of a new venture today.

SpringHill Co., which is named after the Akron apartment complex where James and his mother lived, is a media conglomerate designed to serve as "a maker and distributor of all kinds of content that will give a voice to creators and consumers who’ve been pandered to, ignored, or underserved." The company combines SpringHill Entertainment with Uninterrupted LLC and Robot Co., a marketing agency.

James and Carter raised $100 million in investor funds for the project, according to Bloomberg Businessweek. The reported investors include NewsCorp heir Elisabeth Murdoch, SC.Holdings, the investment fund run by entrepreneur Jason Stein, and Guggenheim Parners LLC.

Carter calls the company "a house of brands." Meanwhile, James reacted to the announcement with a message on Twitter this afternoon.

"Incredibly proud of today’s announcement!" he wrote. "We started building this company almost 5 years ago and while I love every project and story we tell…I am most proud of our team. 100+ employees, 64% people of color and 40% female in an industry that avg 25%."

Moving forward, we'd expect a lot of unique content out of SpringHill Co., and the company's progress and evolution will be worth watching.

In the meantime, James is also preparing for the restart of the 2019-20 NBA season, which is set to take place in Orlando next month.