Magic Johnson May Take Stake, Top Post at Vibe Holdings

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Feb. 9 (Bloomberg) -- Retired basketball star Magic Johnson agreed to invest in Vibe Holdings LLC, a magazine and television company focused on the urban market, along with billionaire Ron Burkle, according to a person familiar with the agreement. As part of the deal, Johnson, 51, will become chairman of New York-based Vibe, said the person, who declined to be identified because the deal isn’t public. Bloomberg's Betty Liu reports. (Source: Bloomberg)

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