Magic Johnson could buy Jet, Ebony publisher

February 15, 2010 10:10:20 AM PST
Magic Johnson could soon be the owner of Chicago-based Johnson Publishing Company, the publisher behind Ebony and Jet magazines. The retired NBA star-turned-businessman has been in talks with Johnson Publishing.

Besides acquiring the magazines and their archives of iconic photographs documenting African-American life for more than half a century, the deal reportedly includes the magazine's Chicago headquarters.

No dollar figure or timetable has been given on any possible purchase.