LeBron James’ media empire is bleeding money – so much!

LeBron James could dominate on the pitch, but off it, his media company, SpringHillShe is struggling to gain a foothold.

Founded in 2020 together with his long-time friend and manager Maverick CarterSpringHill has made great strides in the entertainment world with production The store for HBO and even one Space Jam New edition.

Despite these high-profile projects, the company suffered a huge loss 28 million dollars last year, according to a report from Bloomberg’s Lucas Shaw.

Here’s the highlight: even with $104 million in salesSpringHill has never been profitable. Now things are looking even more difficult for 2024.

To stay afloat, SpringHill is to merge with the British power plant Fulwell 73the production company behind the Kardashians, the Grammys and Adele’s One Night Only.

With this merger comes some difficult decisions – like layoffs for some at SpringHill 250 employees.

On the positive side, the merger will bring additional benefits $40 million in investments.

This is what SpringHill is counting on cash injection And Cost reduction will finally turn things around and aims to be profitable by the end of next year.