US professional basketball star LeBron James’ entertainment, movies, e-commerce, and video games firm, SpringHill Company, has raised $250-350m from a consortium of investors led by RedBird Capital Partners. The deal values SpringHill – which is forecasting $100m revenue next year -at $725m. Investors include the Epic computer games publisher.
The deal is just the latest high multiple for independent producers of shows, movies and streamed content. In August, Blackstone acquired a majority stake in Reese Witherspoon’s Hello Sunshine, valuing the company at $900m. Amazon is buying MGM at a similarly high valuation.