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Magic Johnson in talks to buy Ebony & Jet magazine

NBA great Magic Johnson is in talks to purchase Ebony and Jet magazines, according to Bloomberg News. The two magazines, which are owned by Johnson Publishing Co., are icons in the black community and have covered some of the most important events of our time.

Recently, Johnson Publishing Co., like many media outlets, has come under severe financial pressure due to the economic downturn and a 38 percent decline in advertising revenue. 

It's only talk right now, there's no definitive agreement. Damn Magic is BALLLIN!!! 

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