With a multimillion-dollar investment, Lakers Hall of Famer Magic Johnson is set to become chairman of a New York-based magazine and television company that he says is poised to tap into a coveted urban audience.

Johnson, 51, will be chairman of Vibe Holdings, the parent company of Vibe magazine and owner of the music-and-dance TV show “Soul Train,” including its star-studded performance library.

Read the entire article at Target Market News.

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