Jet magazine, the sister publication to long-standing Ebony, just received a new look. Now, it appears that it may also get a new owner. Reports surfaced Friday, Feb. 12, that mega-entreprenuer and basketball hall of famer, Magic Johnson, is in talks to purchase Johnson Publishing Co, the Chicago-based publisher of both magazines.
Bloomberg.com cited Eric Holoman, president of Los Angeles-based Magic Johnson Enterprises, as saying “there have been discussions.” Holoman declined to comment further.
The publishing company’s Chicago headquarters reportedly would be included in the sale, the site reported. However, a purchase may require satisfying liens that have been placed on the building by one of the company’s creditors. A Spokeswoman for the company, Wendy Parks, said Linda Johnson Rice, chairwoman and chief executive officer of Johnson Publishing, “has never talked to Magic Johnson with respect to his interest in buying” the company.
Ebony and Jet magazines are the owners of an archive of timeless photographs documenting African American life for more than half a century. –gerald radford
