Magic Johnson Invests in Vibe Magazine

The legendary LA Laker invests in one of the leading urban and Hip Hop music publications Vibe.

Vibe Magazine's nearly two decades of publication almost ended in 2009 when the magazine nearly such down for good. Now, back in publication after a private equity investment fund from InterMedia Partners LP, Vibe is expanding its business model with its newest investor and chairman former Los Angeles Lakers player Earvin "Magic" Johnson.

According to Bloomberg, the legendary five-time NBA Championship winning point guard invested in Vibe Holdings LLC through the Yucaipa Cos. investment firm. Johnson says that he hopes his and Yucaipa Cos. hope that their investments will help Vibe secure its place as one of the leading urban media publications.

"We will redefine Vibe Holdings as the center of influence for the coveted urban audience," said Johnson. (Bloomberg.com)

Peter Kerns of InterMedia Partners echoed Magic's enthusiasm, saying, "With the help of our new partners we believe we can build a leading platform for our core audiences and for advertisers." (Bloomberg.com)

Vibe Holdings doesn't simply produce the Quincy Jones-founded magazine, however. The media conglomerate also owns Uptown magazine, the TV show "Soul Train" and over 25 websites.

7 Comments

  • Mike Jones

    THE VIBE IS still the magazine of the year, just rebranding the company www.TALENTHOUSELIVE.com

  • J

    Really, just because this is a hip hop site, it does not mean that bad grammar is acceptable. Why are there always so many proofreading mistakes on here?(not a rhetorical question, because I would like to know) "Vibe Magazine's nearly two decades of publication almost ended in 2009 when the magazine nearly such down for good."

  • EddieMurrrphy

    HA! is really all that is worth saying about this article and this picture.

  • Steven Ireland

    Who reads vibe lol

  • Bryant Carter

    a friend who was hit by a drunk driver and is now in a coma. Before I say anything else I do ask that you pray for her recovery. I was recently interviewed by a west coast magazine, and just had the interview published to the mag site. If I get enough FB likes my interview will go into the actual magazine. The link is http://wwsmag.com/updates/bryant-c-caught-up-20-10/ I just ask that you take a look, and press like for me. I made it an honest interview so I'm sure that you will like it. http://wwsmag.com/updates/bryant-c-caught-up-20-10/ Also feel free to view my youtube link @ http://www.youtube.com/results?search_query=bryantc1000&aq=f

  • Anonymous

    Waste Of Money, Add Magazines to the list of things the internet killed, Give it 5 more years and there wontbe any left, Just Cyberspace replacing more real peoples jobs, lol

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