LeBron James and his business partner have secured $100m (£90m) in investments for their media company which aims to empower black audiences.
SpringHill Entertainment, is headed by the basketball player and his business partner, CEO Maverick Carter. 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, according to Variety.
The company is a result of three projects merged together – production company SpringHill Entertainment, digital media company Uninterrupted and the Robot Co, a marketing agency.