GHJ played a pivotal role in the merger that united two global entertainment leaders and positioned both entities for significant growth. 

 

HIGHLIGHTS: 

  • Seamless collaboration between multiple service lines to successfully support a complex merger and future growth
  • Streamlined operational structure to support tax planning and optimize tax strategies
  • Improved processes to ease the administrative burden of tax compliance  

 

BACKGROUND 

Fulwell 73 is a UK-based, award-winning production company known for The Kardashians, Carpool Karaoke and The Late Late Show with James Corden. They sought to merge with The SpringHill Company, founded by LeBron James and Maverick Carter, to expand their media influence. The Fulwell 73 team partnered with GHJ to manage its complex tax needs, which was especially necessary for a successful merger. 

 

GHJ'S APPROACH 

GHJ’s holistic services met the needs of the merger and beyond. The team focused on several key areas: 

  • Transaction Advisory Services: GHJ’s Transaction Advisory Services Team worked with the client on both the buy- and sell-side due diligence to close the deal efficiently and effectively.
  • Tax Structuring and Compliance: GHJ’s Tax Team provided comprehensive due diligence working hand-in-hand with the client’s attorney team to ensure a smooth transaction while optimizing tax strategies. 
  • Complex Entity Structure Management: With over 50 U.S. and UK entities and outside investments, GHJ’s Corporate Tax Team worked closely with attorneys and stakeholders to simplify the structure and reduce risks and administrative burden from annual tax compliance.
  • State Tax Optimization: GHJ’s State and Local Tax Team analyzed apportionment across 21 states, which strategically minimized liabilities in high-tax jurisdictions like California.
  • International Tax Compliance: GHJ’s International Tax Team’s expertise streamlined extensive international filings, reduced unnecessary compliance burdens and advised on structural improvements. 

Overall, having the client’s service needs met by one firm improved the efficiency of the merger and allowed for a comprehensive understanding of the business to set them up for future success. 

 

RESULTS 

GHJ’s work led to significant improvements for Fulwell 73, including: 

  • Substantial Growth Potential: GHJ’s guidance led to a successful merger accompanied by a $40 million capital raise that gave both entities meaningful growth potential. 
  • Tailored Tax Planning: GHJ demonstrated a strong understanding of Fulwell 73’s business, including their historical background, in a short timeframe to provide the most effective tax planning for the merger and make recommendations for future tax needs. 
  • Improved Client Communication and Efficiency: GHJ scheduled weekly check-ins to efficiently address immediate needs while also keeping an eye on future efficiency. GHJ also helped set up a year-long tax calendar for mandatory tax deadlines and an accountability chart defining roles and responsibilities to ensure transparency and efficiency for future tax deadlines.   
  • Tax Savings and Risk Mitigation: GHJ’s recommended strategic structuring reduced unnecessary filings, optimized tax positions and minimized compliance risks. 

“GHJ’s industry expertise and their collaborative, proactive approach were not only instrumental in successfully navigating a complex merger, but they have helped to set the stage for our operational efficiency and eased the burden of tax compliance,” said Joanne Robinson, CFO Fulwell Entertainment. 

GHJ is proud to partner with clients and deliver comprehensive, tailored solutions that address present needs and drive long-term success. By providing transaction support and strategic guidance, GHJ has helped Fulwell 73 expand its business, ensure compliance and streamline operations.