Octavia Spencer, LeBron James Bringing Madam C.J. Walker Series to Netflix

Octavia Spencer and LeBron James (Credit: Netflix and Deposit Photos)

Netflix has picked up a limited series about African-American entrepreneur, Madam C.J. Walker, from Oscar winner Octavia Spencer and LeBron James.

The streaming giant made the announcement Sunday during its presentation at the Television Critics Association summer press tour in Beverly Hills, according to TheWrap.

Spencer will play the hair-care pioneer in Madam CJ Walker, as she overcomes “hostile turn-of-the-century America, epic rivalries, tumultuous marriages and some trifling family to become America’s first black, self-made female millionaire,” Netflix said.

Read MoreTami Roman Lands Acting Role Alongside Oscar-Winner Octavia Spencer in Apple series

Walker, real name Sarah Breedlove, was born on a plantation in Delta, Louisiana, in 1867, according to her official website. Her parents were enslaved before the end of the Civil War.

The series will recount Walker’s journey from being orphaned at age seven, to marrying at 14, and becoming a washerwoman, before discovering a scalp conditioning and healing formula known as Madam Walker’s Wonderful Hair Grower. Walker died in 1919 at age 51, after becoming the nation’s first black, self-made female millionaire.

The production is based on the book, On Her Own Ground, by former ABC News executive A’Lelia Bundles, who is Walker’s great-great-granddaughter.

Read MoreLeBron James’ Barbershop Talk Show ‘The Shop’ Lands at HBO

Spencer will executive produce the series, along with James and Maverick Carter for SpringHill Entertainment in association with Warner Bros. Television. Janine Sherman Barrois and Elle Johnson are set to serve as co-showrunners.

A release date has not yet been announced.