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Redbird's Gerry Cardinale next to a statute of the Incredible Hulk. Photo by Bloomberg
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Sports Media Investor RedBird Capital Is In Talks to Invest in LeBron James’ SpringHill

Photo: Redbird's Gerry Cardinale next to a statute of the Incredible Hulk. Photo by Bloomberg

RedBird Capital Partners, an investment firm specializing in sports media, is in advanced talks to buy a minority stake in NBA superstar LeBron James’ entertainment firm, SpringHill Company, according to people familiar with the matter.

The talks are the latest sign of investor appetite for independent entertainment businesses, sparked by a boom in the production of content, especially for streaming platforms. In August, a new media venture from former Disney executives Kevin Mayer and Tom Staggs, backed by Blackstone, acquired a majority stake in Reese Witherspoon’s Hello Sunshine, which valued the entertainment company at $900 million. The Blackstone-led venture also looked at SpringHill but is no longer pursuing a deal, according to other people familiar with the situation.

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