Big news on the table for Magic Johnson and VIBE. The NBA Hall of Famer turned entrepreneur master has just invested a HUGE stake in VIBE Holdings. And he's also been named chairmen of the whole group.
We've got the deets on that, plus Jennifer Williams' confirmation of her divorce from Eric Williams...
Magic Johnson just made a big move in the media world. He and Ron Burkle just put in major mula into VIBE Holdings company. And Magic has been named the Chairman. VIBE Holdings encompasses VIBE magazine, Vibe.com, Uptown mag, and the whole Soul Train franchise.
According to the press release just sent out:
Vibe Holdings LLC (“Vibe Holdings”) today announced an investment from Magic Johnson Enterprises and Ron Burkle’s The Yucaipa Companies, joining Vibe Holding’s existing owner, InterMedia Partners. Vibe Holdings is a leading multi-cultural media company consisting of treasured and celebrated brands including Vibe Magazine, Vibe.com, Uptown Magazine and the revered and iconic Soul Train TV show and library. This investment transaction will invigorate and further cement these brands as formidable urban media outlets spanning the broadcast, digital, live entertainment, and print mediums.
As part of the transaction Earvin “Magic” Johnson will become Chairman of Vibe Holdings. In the role of Chairman, Johnson, a venerated and proven architect of niche market development, will 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. Through the strategic combination of InterMedia Partners, MJE and The Yucaipa Companies, Vibe Holdings will be positioned as the globally recognized voice of influence, and continue to deliver compelling and relevant content dedicated to magnifying the heart and soul of the rich urban culture."
Magic said about the partnership:
“The mission of Magic Johnson Enterprises is focused on building mutually beneficial relationships between corporations and the underserved urban market. Through programs designed to cultivate the existing profit potential of this burgeoning, and frequently neglected demographic, we are able to revitalize and maximize profit margins. Currently the landscape of modern media lacks a platform to serve this community on a global scale
History and legacy are paramount in building brand affinity and we plan to integrate this ideology into the resurgence of Vibe Holdings. Through leveraging established brand equity we will create a pertinent message vehicle for major advertisers. We will redefine Vibe Holdings as the center of influence for the coveted urban audience."
LOVE this. I'm always a huge fan of blacks investing in BLACK. Nice!
In reality tv news, "Basketball Wife" Jennifer Williams has confirmed sheis officially divorcing her husband, Eric Williams. Yeah, we kinda figured that after all the foolery between them on the show. And him seeming not to really care much more about the relationship.
Jennifer tells Life & Style mag that she's planning on filing for divorce in the next couple of weeks:
"It's a new year and I just want to put this behind me,” Jennifer tells Life & Style exclusively. “He doesn't know exactly when I'm going to do it. He’s just waiting for me to pull the trigger.
I really wanted it to work and believed he would change. This whole lifestyle is dysfunctional; it's not a typical marriage. The bad just started to outweigh the good. I just want to live comfortably and move on, get it over with. I definitely will not put up with this type of behavior ever again!”
About the rumors a love child that surfaced last summer:
“I wasn't distraught about it, but I really felt bad for the child.”
Goodness. Maybe it's for the best....
The Randomness:
1. In non YBF news, Ashlee Simpson just filed for divorce and spousal support from husband Pete Wentz! Story
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