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Amid a pullback in TV spending, unscripted production companies Fulwell 73, behind Hulu reality hit “The Kardashians,” and SpringHill Co., founded by NBA superstar LeBron James and Maverick Carter, are in talks to combine forces.
The companies have been discussing a potential merger for several months, two sources confirmed to Variety. Execs at both companies see the tie-up as a merger of equals, not one party acquiring the other. The teams at SpringHill and Fulwell 73, whose partners include James Corden, are looking at what’s happening in the media and entertainment sector and believe that consolidation would create a stronger entity rather than leaving each separately, one source said. The merger talks were first reported by Bloomberg.
The two companies are different enough in their content focus that they think such a combination could help each other grow their businesses, per a source familiar with the talks. In addition, SpringHill has a branding agency and an advertising arm, as the result of James and Carter combining their businesses in 2020.
London-based Fulwell has rights to “Gavin & Stacey,” a sitcom popular in Britain, which is airing a special episode on Christmas Day, and has been involved in producing the Grammy Awards. Other projects include “Adele: One Night Only,” “Friends: The Reunion” for Max and “Carpool Karaoke” for Apple TV+. Company co-founder Ben Winston was an executive producer of “The Late Late Show With James Corden,” who is a partner in Fulwell 73 alongside Leo Pearlman, Ben Turner and Gabe Turner.
SpringHill’s projects include “Space Jam: A New Legacy,” starring LeBron James; “Rez Ball,” directed and co-written by Sydney Freeland and “Reservation Dogs” creator Sterlin Harjo; “A Radical Act: The Renee Montgomery Story” for Roku; NBC’s “The Wall”; and Netflix’s “Starting 5” featuring NBA stars James, Jimmy Butler, Anthony Edwards, Jayson Tatum and Domantas Sabonis.
When SpringHill Co. was formed in 2020, initial backers included Guggenheim Partners and Elisabeth Murdoch. In 2021, the company sold a minority stake to investors including Nike, Epic Games, Fenway Sports Group and RedBird Capital Partners (which has teamed with Skydance Media to acquire Paramount) to give SpringHill a valuation of $725 million.
Meanwhile, Todd Boehly’s Eldridge Industries holds a minority stake in Fulwell 73.
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