16278: NBA Big Stars For Big Pharma.

 

Kareem Abdul-Jabbar hawks for Bristol Myers Squibb, defending against Atrial Fibrillation. Earvin “Magic” Johnson is a GSK spokesman, raising awareness for Respiratory Syncytial Virus. Who’s next? James Worthy on diabetes? Byron Scott with rheumatoid arthritis? A.C. Green hyping hair transplantation? Pat Riley for erectile dysfunction?

 

15852: LeBron James Traded To Magic…?

 

Magic Fruity Pebbles—a limited edition breakfast cereal—boasts a mega-promotion featuring Nike and LeBron James. The campaign underscores the lack of diversity in Bedrock. And wouldn’t it have made more sense to use Magic Johnson or an Orlando Magic player?

 

Then again, do professional athletes really eat breakfast cereal that magically turns milk purple? Whatever happened to Wheaties, the Breakfast of Champions?

 

Hey, wait a minute—how many cereals does King James play for?

 

11862: Pray For The L.A. Clippers.

For a second, it looked like the selection of Dick Parsons as the new Los Angeles Clippers CEO might have potentially offset the Offensive Karma ignited by Donald Sterling’s racist rant. Alas, Sterling delivered an “apology” that included dissing Magic Johnson, which absolutely negated any goodwill generated by Parsons’ appointment. Johnson remarked, “I’m going to pray for [Sterling]…” Unfortunately, if Offensive Karma plays out, the Clippers don’t have a prayer.

8494: Showtime For Vibe…?

From The New York Post…

Magic set to help Vibe mag get its groove back

By Keith J. Kelly

Vibe Ventures hopes that the magic is back now that it has a new ownership team led by basketball legend Magic Johnson and supermarket billionaire Ron Burkle—who are pumping an estimated $12 million into the ailing company in exchange for a majority stake.

The current owner, InterMedia Partners, a private-equity firm headed by Leo Hindery that took over in a foreclosure sale in late 2009, is going to stay involved.

“We feel we can take it to a whole other level,” Johnson told The Post.

The former Los Angles Lakers star, who will serve as chairman of Vibe Ventures, was pegged by Forbes in 2009 as one of the five wealthiest African-Americans in the US, with an estimated worth of $500 million.

In addition to the flagship Vibe magazine, Vibe Ventures includes Uptown magazine and related digital ventures and the rights to 1,100 episodes of dance show “Soul Train.”

“We plan to find a way to build the ‘Soul Train’ brand and get it back on the air,” said Johnson, who also promised to promote everything from music awards and live performances to business seminars and overseas licensing.

Johnson said the Yucaipa/Johnson Fund, formed from Burkle’s Yucaipa Cos. and Magic Johnson Enterprises, has about $550 million available for future deals in all fields. He said he is on the prowl for more acquisitions in the urban entertainment and media arena.

“When advertisers and marketers want to get that urban eyeball, we want to be the company that they come to,” said Johnson.

Vibe once jockeyed with The Source for a lead role covering hip-hop culture, but The Source was rocked by financial turmoil and forced to sell to new owners.

With yesterday’s deal, Vibe will get its fourth owner in its 18 years of publishing. The Wicks Group, which purchased the magazine for $35 million in 2005 from Miller Publishing, defaulted on its loan from Capital Source Bank in 2009 and forced a temporary shutdown.

Hindery’s InterMedia Group took over and revived the magazine later that year. It plans to publish six issues of Vibe and six issues of Uptown this year. Robert Miller, part of the original Vibe launch team and a past owner, is involved as chairman of the Vibe and Uptown Magazine Group.

7545: More On Magic And Johnson Publishing.

From Target Market News…

Magic Johnson says ‘advanced discussions’ with JPC didn’t reach ‘definitive agreement’

Earvin “Magic” Johnson released a statement today saying someone from Magic Johnson Enterprises really had been speaking with someone else at Johnson Publishing Co. about something, but that nothing had come out of the talks.

Without being straightforward about the details, the former NBA star tried to put to rest a week-long buzz about his interest in the company that publishes the legendary Ebony and Jet magazines. The story took on a life of its own, with columnists, critics and bloggers assuming that a sale of JPC was all but a done deal.

In a carefully crafted 88-word release, Los Angeles-based businessman Johnson offered his only comment since the Feb. 13 Bloomberg news service story appeared quoting an unidentified insider who said a sale of JPC was being negotiated. MJE president, Eric Holoman was also quoted, saying that there were discussions, but “there is no definitive agreement.”

In his statement Johnson mentions the word “sale,” but he claims that “advanced discussions to do business together” took place, though not between him and JPC chair and CEO, Linda Johnson Rice.

Here’s what the entire statement said:

“I would like to salute Linda Johnson Rice and the Johnson family for pioneering the iconic brand of the Johnson Publishing Company, which we have all come to love and respect. Ebony and Jet have been permanent fixtures on coffee tables in African-American homes for many years.

“Recently, an affiliate of Magic Johnson Enterprises and Johnson Publishing Company were in advanced discussions to do business together, but unfortunately we were unable to reach a definitive agreement. We will continue to look for opportunities to invest in African-American media.”

For its part, the 67-year-old Chicago-based firm continues to ignore conjecture about its future plans, while working to hold its ground in an advertising market hard-hit by the recession.

JPC recently introduce improvements to the nation’s two most successful black-owned titles. The weekly Jet just unveiled a new logotype and overall design, coming on the heels of a similar makeover of its flagship, Ebony magazine.

7529: Johnson Publishing Denies Magic Moments.

From Target Market News…

Johnson Publishing Co. officials deny negotiation talks with Magic Johnson

Executives with Chicago-based Johnson Publishing Co. have denied that there are negotiations taking place regarding a sale or partnership with businessman and former NBA star, Earvin “Magic” Johnson. A report published last week by the Bloomberg news service quoted Eric Holoman, president of Magic Johnson Enterprises, as saying “There have been discussions” with the nation’s largest African-American owned publishing company, but “there’s no definitive agreement.”

The story also quoted JPC spokesperson, Wendy Parks as saying that company chairman and CEO, Linda Johnson Rice “has never talked to Magic Johnson with respect to his interesting buying the company.”

JPC executives, who asked not to be identified, told Target Market News that the story “was a total surprise,” and that there are no talks taking place with MJE.

Magic Johnson most recently was in the news for suggesting to President Obama that a minority czar be appointed by the administration to act as a liaison between minority communities and the White House. He also said that he would be willing to assume the post if other candidates could not be identified.

Numerous stories have circulated about the fate of Johnson Publishing Co., which publishes Ebony and Jet magazines. Like all publishers, has had to address severe cuts in advertising revenues. In 2009 JPC reported to the Publisher Information Bureau ad revenues of $35.4 million, a drop of 37.5 percent from 2008. Ebony continued to be the largest revenue producer of all black-owned magazines. Essence, the leading magazine for black women and owned by Time Inc., had 2009 revenues of $100.6 million, a drop of seven percent from the previous year.

Though a host suitors and buyers have been cited as interested or holding discussions with the iconic company, no sales or partnerships have taken place.

7518: Bringing Magic To Ebony And Jet.

From The New York Post…

Magic Johnson courts magazines

Earvin “Magic” Johnson is betting he can bring some magic to the venerable black magazines Ebony and Jet.

The Hall of Fame basketball player is said to be in talks to purchase Johnson Publishing Co., the company behind the two well-known magazines aimed at African-Americans.

“There have been discussions,” Magic Johnson Enterprises President Eric Holoman said in an interview with Bloomberg News, during which he noted, “There’s no definitive agreement.”

A spokeswoman for Chicago-based Johnson Publishing told Bloomberg that company Chairman and CEO Linda Johnson Rice “has never talked to Magic Johnson with respect to his interest in buying” the 58-year-old company.

Talk of a transaction comes as Ebony, like most magazines, has taken it on the chin because of the ad recession. According to the Publisher’s Information Bureau, Ebony’s ad revenue has tanked 38 percent to $35.5 million, driven by a 39 percent decline in ad pages. Jet, meanwhile, has recorded a 36 percent drop in ad revenue to $17.1 million on a 36 percent fall in ad pages.

Bloomberg, citing a person familiar with the matter, reported that a deal with Johnson would likely include the company’s headquarters, which has had liens placed on it by one of the company’s creditors.

Johnson, who’s armed with a $1 billion war chest, would fold Johnson into his Magic Johnson Enterprises, which has partnerships with Starbucks, health-club chain 24 Hour Fitness Worldwide and restaurant chain T.G.I. Fridays.