Magic Johnson buys stake in VIBE magazine
Magic Johnson Steps Into Publishing As VIBE’s Newest Owner
Magic Johnson is adding another milestone to his post-NBA legacy. The basketball icon and seasoned entrepreneur has officially entered the publishing industry by purchasing a stake in VIBE Holdings, the parent company behind VIBE Magazine, Uptown Magazine, and the historic Soul Train franchise. The move marks a bold pivot for the Hall of Famer. Now, he is turning his attention to reshaping urban media.
In collaboration with private equity firm The Yucaipa Companies, led by billionaire investor Ron Burkle, Johnson is injecting fresh capital into the company and assuming the role of Chairman of VIBE Holdings. The partnership also includes existing stakeholders from InterMedia Partners, the firm that helped revive VIBE Magazine after its 2009 shutdown.
Breathing New Life into VIBE
VIBE Magazine faced significant setbacks in 2009. Thus, temporarily halting its publication due to financial strain. The brand was rescued later that year by InterMedia Partners, who relaunched it with the intent of restoring its legacy. But with the addition of Magic Johnson and new capital—reportedly over $12 million—the media group is poised for a powerful resurgence.
Johnson brings with him not only capital but a visionary approach to media entrepreneurship.
“We will redefine Vibe Holdings as the center of influence for the coveted urban audience,” says Magic Johnson.
This declaration reflects his ambitions to expand VIBE’s reach and reestablish it as a leading voice in urban culture, entertainment, and lifestyle.
VIBE Holdings: More Than Just a Magazine
VIBE Holdings is far more than a single publication. Its portfolio includes Uptown Magazine, a sophisticated lifestyle magazine focused on the African-American community, and the legendary Soul Train, a cornerstone of Black entertainment history.
With Magic Johnson at the helm, there is a clear intent to leverage these assets beyond traditional publishing. Johnson has expressed specific interest in bringing Soul Train back to television and revitalizing the brand for a modern audience. He’s also exploring digital expansion, creating opportunities for content to thrive across web platforms, streaming services, and mobile media.
A Track Record of Business Success
Johnson’s move into urban media is not surprising given his prolific business career. Since retiring from the NBA, he has built a multi-million-dollar empire through Magic Johnson Enterprises, with holdings in movie theaters, real estate, food services, and sports franchises. He previously held a minority stake in the Los Angeles Lakers. In addition, he has partnered with Sodexo USA in operating Sodexo-Magic, a contract food service provider.
Having already proven his prowess in the business world, Johnson is approaching the media space with strategic precision and a long-term vision.
“We intend to build one of the most important enterprises in urban media,” adds Ron Burkle, affirming the depth of this venture.
Expanding the Urban Media Empire
As chairman, Magic Johnson will play a key role in shaping the future of VIBE Holdings. His goal is not just to restore VIBE’s former glory but to expand its influence across platforms. The company is reportedly exploring the acquisition of additional urban-focused media properties, with the intent to consolidate influence and attract top-tier advertisers.
By offering a suite of print, digital, and television assets tailored to urban audiences, Johnson plans to position VIBE Holdings as the go-to platform for urban culture, attracting both content creators and advertisers looking to tap into this valuable demographic.
The Timing of the Deal
This investment comes at a time when traditional media is undergoing rapid transformation. Print publications are increasingly adapting to a digital-first approach. Johnson’s entrance into the space is seen as both a vote of confidence in the VIBE brand and a strategic decision to reach an underserved but influential market segment.
In 2010, Johnson expressed interest in acquiring Ebony and Jet, two longstanding African-American magazines. While that deal didn’t materialize, his focus on VIBE shows a commitment to preserving and expanding culturally relevant media properties.
A Vision Rooted in Community
Magic Johnson has consistently aligned his business ventures with his commitment to community uplift. From building movie theaters in underserved neighborhoods to partnering on affordable housing, Johnson has proven that profit and purpose can coexist. His approach to VIBE Holdings is no different.
“Our mission is to serve the underserved urban market and help brands connect with these communities in authentic ways,” Johnson stated.
This community-centered strategy is expected to influence the editorial direction, partnerships, and programming across VIBE Holdings’ various platforms. Through Magic’s business career, he’s always ensured various forms of community investment.
InterMedia Partners Remains Involved
Although Magic Johnson now chairs VIBE Holdings, InterMedia Partners will maintain a significant stake and advisory role in the company. Their initial investment helped save VIBE from permanent closure, and they remain committed to growing the brand under Johnson’s leadership.
Peter Kerns, a senior executive at InterMedia, noted that Magic’s involvement was the missing piece needed to truly elevate VIBE’s standing in the media world.
“With the help of our new partners, we believe we can build a leading platform for our core audiences and for advertisers,” Kerns said.
Looking Ahead: A New Era for Urban Media
As Magic Johnson settles into his new role, the media world is watching. VIBE Holdings is now positioned to become a multifaceted media empire, bridging gaps between legacy media and digital innovation, all while remaining anchored in urban culture.
Whether through the return of Soul Train to television, the revitalization of VIBE Magazine, or the expansion of Uptown Magazine’s influence, Magic Johnson’s fingerprints will be all over the next wave of urban media growth.
With $500 million earmarked for future media acquisitions and expansion, Johnson has made it clear that this is only the beginning. During his playing career, Johnson showed an interest in business. When he missed time due to injuries, Magic studied various businesses.
Since his retirement from the NBA, Magic Johnson focused his attention on business ventures. However, almost all of Magic’s business ventures center around the Black community. As a result, his investment in VIBE could be a complete overhaul in the overall sphere of Black entertainment.