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LeBron James’ Media Company is Bleeding Money – Lost Nearly $30 Million Last Year
Gateway Pundit ^ | December 02, 2024 | Ben Kew

Posted on 12/02/2024 7:56:28 AM PST by Red Badger

LeBron James may be the wealthiest basketball player in history, but his media company is in troubled waters.

According to financial documents obtained by Bloomberg, Springhill, the media company LeBron founded with his business partner Maverick Carter, is bleeding money and failing to turn a profit.

Founded in 2020, SpringHill seeks to combine film and television production, athlete storytelling, and marketing. Its completed projects include the film Space Jam: A New Legacy and Netflix’s Top Boy.

The report states:

The company lost $28 million on sales of $104 million last year, according to documents obtained by Bloomberg News. SpringHill lost $17 million in 2022 and is on pace to lose millions more in 2024.

Hollywood production companies that sprouted during the past decade to serve the growing demands of streaming services are struggling as those services cut back on production and scrutinize budgets. This market correction has impacted everyone – from the world’s largest entertainment companies, which have cut staff, to prop houses, real estate developers and the independents like SpringHill.

“The entertainment market shift in 2022/2023 toward profitability brought rising costs, slower buyer decisions, and impacts from industry strikes, prompting us to recalibrate, including writing off underperforming projects to position ourselves for future growth,” SpringHill Chief Executive Officer Maverick Carter said via email, adding that the company is expected to exceed projections this year.

SpringHill recently agreed to a merger with Fulwell 73, the British production outfit behind The Kardashians and the Grammy Awards, a deal that will give the combined company more scale during a challenging business environment. The company, which will have 250 employees, is aiming to be profitable by the end of next year, following a round of staff cuts.

The report is far from the only embarrassment LeBron has faced recently.

Just last week, LeBron was brutally heckled at an NFL game about his relationship with Sean ‘Diddy’ Combs, who is currently awaiting trial on a multitude of sex trafficking allegations.

“‘Bron! ‘Bron! We know you were at those Diddy parties! We know you were there,’” the fan screams at him.

The 39-year-old will also be licking his wounds after Donald Trump’s spectacular election victory last month.

Posting on the X platform days before the election, he offered a full-throated endorsement of Kamala Harris, comparing her campaign to the civil rights struggles of decades gone by.


TOPICS: Arts/Photography; Computers/Internet; Music/Entertainment; TV/Movies
KEYWORDS: hollywood; lebron; moneylaundering; shutupanddribble; usefulidiot
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He might want to take a few lessons from Tyler Perry:

Make movies that people actually want to see.............

1 posted on 12/02/2024 7:56:28 AM PST by Red Badger
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To: Red Badger

Let us all whisper it: “Bidenomics is working!”


2 posted on 12/02/2024 8:03:39 AM PST by alstewartfan (Child slavery, rape and drug OD's mean nothing to Roberts and Barrett. )
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To: Red Badger

Founded in 2020, SpringHill seeks to combine film and television production, athlete storytelling, and marketing.


sounds good till you think about it.


3 posted on 12/02/2024 8:04:03 AM PST by PeterPrinciple (Thinking Caps are not longer being issued, but there must be a warehouse full of them somewhere)
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To: Red Badger

How to become a millionaire?

Be a billionaire and star athlete, and invest in a “media company.”


4 posted on 12/02/2024 8:04:10 AM PST by PGR88
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To: Red Badger

Good


5 posted on 12/02/2024 8:06:21 AM PST by BigFreakinToad (All she is, is cackles in the wind.)
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To: Red Badger

https://en.wikipedia.org/wiki/SpringHill_Company

In November 2024, it was announced that SpringHill Company would merge with Fulwell 73 by the end of the year with Maverick Carter and Leo Pearlman leading the combined company as co-CEOs.[7]


That will fix it.............................


6 posted on 12/02/2024 8:06:25 AM PST by PeterPrinciple (Thinking Caps are not longer being issued, but there must be a warehouse full of them somewhere)
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To: Red Badger

Too bad!


7 posted on 12/02/2024 8:07:51 AM PST by laweeks (///)
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To: Red Badger

I wonder how much Harris got?


8 posted on 12/02/2024 8:08:11 AM PST by SMARTY (In politics, stupidity is not a handicap. Napoleon Bonaparte I)
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To: PeterPrinciple

It is a very niche type of production company.

Athlete’s stories are literally a dime a dozen...........


9 posted on 12/02/2024 8:08:12 AM PST by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Red Badger

What a shame.


10 posted on 12/02/2024 8:09:37 AM PST by 9YearLurker
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To: All

Lebron will also be licking his wounds after Donald Trump’s spectacular election victory.
Posting on X days before the election, he offered a full-throated endorsement of Harris,
comparing her billion dollar campaign to the civil rights struggles of decades gone by.


Heheheheh.


11 posted on 12/02/2024 8:11:34 AM PST by Liz (The urge to save humanity is almost always a false front for the urge to RULE. (H.L, Mencken))
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To: Red Badger

It is a very niche type of production company.

Athlete’s stories are literally a dime a dozen...........


there are many other options to explore.

drug dealers

criminals

politicians

influencers

blm


12 posted on 12/02/2024 8:11:38 AM PST by PeterPrinciple (Thinking Caps are not longer being issued, but there must be a warehouse full of them somewhere)
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To: Liz

https://duckduckgo.com/?q=full-throated+endorsement+of+Harris%2C&ia=web

full throated seems to be popular these days among liberals


13 posted on 12/02/2024 8:13:18 AM PST by PeterPrinciple (Thinking Caps are not longer being issued, but there must be a warehouse full of them somewhere)
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To: Red Badger

James has a media company?


14 posted on 12/02/2024 8:16:02 AM PST by fwdude (Why is there a "far/radical right," but damned if they'll admit that there is a far/radical left?)
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To: Red Badger

History is littered with athletes and entertainers that have lost their shirts because they have no business sense.

I get trying to shelter your money from the irs but you better know what the heck your doing......of have someone trustworthy that does.


15 posted on 12/02/2024 8:16:17 AM PST by V_TWIN (America...so great even the people that hate it refuse to leave!)
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To: PeterPrinciple

They are all part of the Athlete’s stories!...........


16 posted on 12/02/2024 8:18:29 AM PST by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: PeterPrinciple

Got her nowhere.....blacks went for Trump.


17 posted on 12/02/2024 8:19:07 AM PST by Liz (The urge to save humanity is almost always a false front for the urge to RULE. (H.L, Mencken))
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To: Red Badger

They are all part of the Athlete’s stories!.........


Thinking Cap (tm) Award.


18 posted on 12/02/2024 8:22:16 AM PST by PeterPrinciple (Thinking Caps are not longer being issued, but there must be a warehouse full of them somewhere)
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To: Red Badger

With as much money as he has, $30m is a rounding error AND a tax write-off..


19 posted on 12/02/2024 8:26:48 AM PST by GeorgiaDawg32
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To: Red Badger

NBA ratings have also collapsed. I haven’t watched a game in years. The play is terrible. No fundamentals, just constant attempts at 3 point shots, which mostly miss. Horrible.


20 posted on 12/02/2024 8:27:03 AM PST by montag813
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