Basketball legend and entrepreneur Magic Johnson is reportedly making plans to make a huge business move.
Magic is believed to be in talks to buy Johnson Publishing Co., the publishing company responsible for popular Black magazines Ebony and Jet.
If a deal is worked out, Magic Johson’s Magic Johnson Enterprises which has partnerships with T.G.I. Fridays, Starbucks Corp. and 24 Hour Fitness, would be responsible for the iconic company.
The President of Magic John Enterprises has not confirmed the agreement as of yet but told Bloomberg that talks were in the works.
“There have been discussions. There’s no definitive agreement.”
In addition to the publishing company Magic is believed to be looking to buy a collection of some of the company’s most iconic photographs.