LeBron James and his business partner have secured US $100m in investments for their media company which aims to empower black audiences.
SpringHill Entertainment, is headed by James with his business partner Maverick Carter as CEO. Serena Williams is among those on the board.
It describes itself as a media company with an unapologetic agenda that will give a voice to creators and consumers.
The company is named after the Ohio apartment complex James was raised in.
Funding for SpringHill Entertainment closed in March but was announced on Thursday.
Stay tuned for the latest news on our radio stations