http://www.businessinsider.com/magic-johnson-wants-to-be-the-next-publishing-mogul-with-ebony-magazine-2010-2

Magic Johnson, the 50-year-old former LA Lakers basketball star, is in discussions to buy Johnson Publishing Co., which prints Ebony and Jet magazines and owns an archive of powerful photographs documenting black like in America.

Although no final agreements have been announced, “there have been discussions,” Eric Holoman, president of Magic Johnson Enterprises, which already works with Starbucks Corp., 24 Hour Fitness Worldwide Inc. and T.G.I. Friday’s Inc., told Bloomberg.

Ad revenue at Ebony, one of the oldest and most successful black magazines, declined 38% to $35.5 million in 2009, according to Publishers Information Bureau. So Johnson surely won't be making millions more if he acquires the company. But bringing Ebony into the fold will help boost his image as a monied mogul willing to scoop up an ailing magazine that has powerful, cultural significance.

Magic is cool and is one of my childhood heroes. THAT´s the type of NBA star kids can look up to and aspire to be like....not those thugs that are in the NBA today.

I miss Kareem Abdul Jabbar, Magic and Doctor J.


Those were the days man.

He should stick with independent business.

KoolEaze said:

Uh oh, you're showing your real age on here! I remember all those guys like yesterday, so I guess I'm giving away my age, too

babynoz said:

Doesnt he own Fatburger?

http://www.businessinsider.com/magic-johnson-wants-to-be-the-next-publishing-mogul-with-ebony-magazine-2010-2

Magic Johnson, the 50-year-old former LA Lakers basketball star, is in discussions to buy Johnson Publishing Co., which prints Ebony and Jet magazines and owns an archive of powerful photographs documenting black like in America.

Although no final agreements have been announced, “there have been discussions,” Eric Holoman, president of Magic Johnson Enterprises, which already works with Starbucks Corp., 24 Hour Fitness Worldwide Inc. and T.G.I. Friday’s Inc., told Bloomberg.

Ad revenue at Ebony, one of the oldest and most successful black magazines, declined 38% to $35.5 million in 2009, according to Publishers Information Bureau. So Johnson surely won't be making millions more if he acquires the company. But bringing Ebony into the fold will help boost his image as a monied mogul willing to scoop up an ailing magazine that has powerful, cultural significance.

Magic is cool and is one of my childhood heroes. THAT´s the type of NBA star kids can look up to and aspire to be like....not those thugs that are in the NBA today.

I miss Kareem Abdul Jabbar, Magic and Doctor J.


Those were the days man.

KoolEaze said:

Magic got more tail than Tiger & Jeter combined. Cats were doing wild shit back in day too.

KoolEaze said:

Magic got more tail than Tiger & Jeter combined. Cats were doing wild shit back in day too.

uPtoWnNY said:

At least back in the day we didn't have their dirty draws, so to speak, in our faces 24/7,

babynoz said:

There was no internet or cell phones back then. Because of technology, if these cats get caught with their draws down, we know about it in five minutes.

Who remembers Magic's talk show? God, he was the worst host in the history of television. So bad that MadTV made parodies of him. lol

Just as long as he does not mess with the Jet Beauty of the Month. Go head, Magic!!!

uPtoWnNY said:

Ewww, Damn technology!

babynoz said:

Y'anno???

Ain't no mystery in nothin' these days!

babynoz said:

This is not a good business decision. He may just see it as a trophy acquisition.
If he's buying it, I want to know how he expects to make money on the purchase?

SUPRMAN said:

Maybe it's not about the money, do you realize the history that Jet and Ebony Magazine both hold?

sammij said:

He may just see it as a trophy acquisition.

babynoz said:

There was no internet or cell phones back then. Because of technology, if these cats get caught with their draws down, we know about it in five minutes.

babynoz said:

Doesnt he own Fatburger?

Hmm, I'll be interested to see if he can turn it around for them. Their legacies have been tarnished, in my opinion.

ThreadBare said:

I don't think they can be.
They've dumbed down their publications and have not proven to be a vital reliable resource, so they've become an afterthought.
But I'm guessing any attempt to go upscale will be met with resistance. They think they're serving a market, but it's a market that doesn't read.