LeBron James is hosting a prime-time TV graduation ceremony for high school seniors

The prime-time TV graduation ceremony is a star-studded one. By Leah Asmelash, CNN

(CNN) -- The class of 2020 may be foregoing the typical high school graduation in the name of public health, but LeBron James has their back.

This week, the NBA star's entertainment company, SpringHill Entertainment, announced "Graduate Together," an event honoring the Class of 2020. An hour-long commercial-free event, the special is set to air on ABC, NBC, FOX and CBS on May 16 at 8 p.m. ET. It will also be streaming on Facebook, Instagram, TikTok and other platforms.

A source involved in the planning told CNN's Brian Stelter that CNN would also be carrying the event.

"We learned early on in our work with students and families in Akron that education is so much more than academics," James said in a statement. "It's about a shared experience, a journey we're all on together -- students, parents, educators, community members, and everyone around them. With that not being possible right now, we've been working to find ways to help families get through this really difficult time,"

The event is taking its direction straight from students, too.

Graduating seniors can upload a photo of themselves to be used in the digital yearbook, as well as submit superlatives, school spirit videos and thank-yous to impactful teachers. Five lucky students could also win $5,000 for submitting graduation speeches.

"These students have worked incredibly hard for this and there's no way we can let that go unrecognized," James said. "While this won't be the graduation experience they were supposed to get, we hope we can still give them something special because they deserve it."

The event might actually be even better than most students' typical graduation. Malala Yousafzai, the Jonas Brothers, Yara Shahidi, H.E.R., Bad Bunny, Pharrell Williams, Lena Waithe and Megan Rapinoe are all slated to make appearances -- something that may not have been possible for most students otherwise.

This isn't the first time James has done work with education. In 2018, he opened the "I Promise" school for at-risk youth in his home town of Akron, Ohio, offering free breakfast and lunch, access to a food pantry and guaranteed tuition for all graduates to the University of Akron.

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