The media company founded by NBA all-star LeBron James reportedly lost nearly $30 million last year and will likely lose millions more.
“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,” Maverick Carter, CEO of SpringHill, told Bloomberg.The company lost $28 million on sales of $104 million last year, according to documents obtained by Bloomberg News.
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