LeBron James Gets $100 Million Investment for Media Company

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Sports and Business News: June 25

NFL Cancels Preseason Opener 

ESPN is reporting that the NFL will cancel the hall of fame game in Canton Ohio, the league's inaugural preseason game, due to the coronavirus pandemic. The league will also cancel its annual Hall of Fame enshrinement ceremony. The Dallas Cowboys and Pittsburgh Steelers were scheduled to compete in the Hall of Fame game on August 6th.

COVID-19 Update  

There are over 9.4 million cases of the virus worldwide, with over 482,000 deaths.

The U.S. has over 2.3 million cases with over 121,000 deaths.

Brazil has 1.1 million cases and 53,000 reported deaths.

Texas Governor Greg Abbott announced Thursday that elective surgeries in major cities would be paused. He then later announced the temporary pause of any further reopening phases for Texas. Businesses that were allowed to reopen under previous phases can open and continue to operate.

Abbott said, “The last thing we want to do as a state is go backwards and close down businesses. This temporary pause will help our state corral the spread until we can safely enter the next phase of opening our state for business.”

Abbott also called for people to wear a mask and to abide by social distancing protocols.

In good news, coronavirus hospitalizations in New York dipped right under 1,000 for the first time since March 18, according to Governor Andrew Cuomo. And the city is on track to ease more restrictions by May 6, per Mayor Bill de Blasio

And, finally, the Kentucky Derby has said that it will run the race, which normally takes place in May on September 4 and 5 with spectators present, but there will be strict rules to protect all guests.

LeBron James gets 100 Million Dollar Investment 

NBA Superstar LeBron James and longtime business partner and friend Maverick Carter have received a $100 million investment to build a media company, James and Carter are the founders of Springhill CO, a media entity designed to give a voice to underserved creators and consumers. Diversity is built into the SpringHill Company, its employees are 64% people of color and 40%, women. Next year SpringHill Entertainment is scheduled to release Space Jam A New Legacy starring Lebron James.

SpringHill secured $100 million in investments. The investors include financial services company Guggenheim Partners LLC, UC Investments, News Corp. heir Elisabeth Murdoch, and SC. Holdings, the investment fund run by entrepreneur Jason Stein.