Magic Johnson to Chair Parent Company of Vibe Magazine

"Vibe Holdings – the parent company of Vibe Magazine, Vibe.com and Uptown Magazine, as well as the “Soul Train” TV show and library – announced today that Earvin “Magic” Johnson’s company has come on board as a part owner of the entire operation.

Magic Johnson Enterprises and Ron Burkle’s The Yucaipa Companies join existing owner, InterMedia Partners in a move to “invigorate and further cement these brands as formidable urban media outlets spanning the broadcast, digital, live entertainment, and print mediums,” read a press release.

As part of the transaction, Johnson will become Chairman of Vibe Holdings. In the role, he’s expected to “utilize his unparalleled business acumen to fuel the continued growth of Vibe Holdings through targeted brand extensions and the creation of diversified advertiser-friendly platforms.”

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