Magic Johnson to Launch TV Network Targeting Black Viewers

Magic Johnson’s latest business venture is in the television industry, as the NBA Hall of Famer is set to launch a network with programs targeting African-Americans. Per the WSJ: “Legendary basketball player Earvin ‘Magic’ Johnson, having transformed himself into a successful real-estate developer, is now setting his sights on television. Mr. Johnson and Comcast Corp. are expected to announce Tuesday that Magic Johnson Enterprises will launch a general interest cable channel on Comcast aimed at the African-American community. The channel, which will be known as Aspire, will feature a wide variety of programming, including original shows, movies and documentaries. ‘African-Americans have choices, and now they have another one,’ Mr. Johnson said in an interview. The channel is part of an effort by Comcast to offer more opportunities to minority-owned networks, fulfilling a commitment the company made to the Federal Communications Commission ahead of its purchase of NBC Universal from General Electric Co. last year. The cable operator plans to help launch as many as 10 minority-owned networks during the next decade, of which four will be majority-owned by African-Americans. […] Comcast is the biggest cable operator in the U.S., serving 22.3 million subscribers. But Aspire is expected to be distributed as part of its digital basic tier, available in only a limited number of Comcast’s homes. It is expected to launch in the summer.”