LeBron James` media company isn`t making a profit. The star basketball player co-founded the project in 2020 and helped attract investors, raising the company`s valuation to $725 million in 2021. The project was already unprofitable then.
SpingHill lost $28 million last year, $17 million the year before.
The trend will continue at the end of this reporting period.
James` partner Maverick Carter said the losses were due to the difficult situation in the entertainment market and the consequences of strikes, and hopes for improvement.
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