Magic Johnson is not a business man, he is a business, man!!

I was a not a fan of Magic for becoming a legend at the Sixer's expense during game 6 in the 1980 NBA finals. But you got to respect his business acumen. Get that paper...

Source: Brett Pulley / 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. Johnson and Burkle, head of the investment firm Yucaipa Cos., will join Leo Hindery, the former cable and telecom executive, whose InterMedia Partners LP already owns a stake in Vibe.

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