The magic man, Ervin “Magic” Johnson is reportedly moving towards a controlling interest in broadcaster Inner City Broadcasting Corp. According to TheDeal.com, Inner City’s debt will be sold to Magic Johnson Enterprises and Yucaipa Companies, who partnered earlier this year to buy a controlling interest in Vibe, as well as three FM stations in Phoenix.
Also, according to Target Market News, the debt deal would not give Magic Johnson & Yucaipa control of Inner City, but it could lead to a sale of some of its 17 stations.
