A production company backed by James Corden, which is behind plans for a £450m film studio in Sunderland, is to merged with a business founded by LeBron James. The merger between The SpringHill Company and Fulwell 73,

LeBron James' production firm The SpringHill Company has agreed to merge with Fulwell 73, the U.K.-based production company behind "The Kardashians," the firms said Monday. Why it matters: The deal gives both companies scale and global reach at a time when the entertainment industry is under enormous pressure to evolve.

Fulwell 73, which is behind plans for a £450m film studio in Sunderland, is to be merged with The SpringHill Company, a business founded by basketball legend LeBron James

The merger is expected to close by the end of 2024, with the companies operating under a new yet-to-be disclosed name.

LeBron James’ SpringHill Co. is merging with Fulwell 73, a union of two Hollywood production companies that their owners hope will better position them for success during a contraction in entertainment.

The SpringHill Company and Fulwell 73 have confirmed their merger and raised $40M from existing investors as they attempt to build clout in a challenged content market. Positioned as a merger of equals,

Fulwell 73 has announced a "mega-merger" with the SpringHill Company, which was co-founded by one of America's biggest sports stars