Staff report
Retired NBA star Magic Johnson said he was unable to reach a deal to buy Chicago-based Johnson Publishing Co., publisher of Ebony and Jet magazines, iconic African-American media brands.
Despite "advanced talks," Johnson said in a statement that, "unfortunately, we were unable to reach a definitive agreement. We will continue to look for opportunities to invest in African-American media."
Retired NBA star Magic Johnson said he was unable to reach a deal to buy Chicago-based Johnson Publishing Co., publisher of Ebony and Jet magazines, iconic African-American media brands.
Despite "advanced talks," Johnson said in a statement that, "unfortunately, we were unable to reach a definitive agreement. We will continue to look for opportunities to invest in African-American media."
Johnson, chairman and CEO of Los
Angeles-based Magic Johnson Enterprises, said he saluted Linda Johnson
Rice and the Johnson family for pioneering the magazines.
"Ebony and Jet have been permanent fixtures on coffee tables in African-American homes for many years," Johnson said.
"Ebony and Jet have been permanent fixtures on coffee tables in African-American homes for many years," Johnson said.
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