Kevork Djansezian, Getty Images
In a file photo, Magic Johnson in Los Angeles on February 9, 2011. Getting your player ready...
LOS ANGELES — Magic Johnson is playing point again, this time as chairman of Vibe Holdings, the owner of the magazines Vibe and Uptown and the “Soul Train” TV show.
The former Los Angeles Lakers superstar said Wednesday that he and partner Ron Burkle have invested more than $10 million in the company and are planning to make it the starter in a fledgling urban-media empire.
“This is just the beginning of what we’re going to start buying,” said 51-year-old Johnson, a three-time NBA Most Valuable Player. “We’re looking to roll up other urban-based brands up under these three. We’re out there looking for deals as we speak.”
Johnson said the Vibe business was running at about break even following a reorganization that began in 2009.
