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Magic Johnson, investors looking to buy Inner City (WJMI, WKXI, etc.)?

T

the golden boy

A headline at the top of the page reports that former NBA great Magic Johnson, along with a company called Yucaipa Companies, is looking to have controlling interest in Inner City Broadcasting, the company that owns Jackson stations WJMI, WKXI, WZNO, WOAD, WJNT and WJQS. Inner City also owns stations in New York, San Francisco and Columbia, SC.

Inner City has had quite a strong presence in Jackson, owning two of the market's top stations in WJMI and WKXI. WJNT has been the area's top news-talker since the 80s and relative newcomer WZNO is now the top-rated sports station in the area too. Don't forget about WOAD's history and recent oldies convert WJQS.

Given that Magic hasn't ventured into radio before (at least, not as an owner), I don't know what to expect. I don't foresee major changes happening, but I do believe a little bit of freshness is in order. Kixie does sound a bit stale at times and 99 Jams, to a smaller extent.
 
This isn't directly related to a potential sale of the IC stations, but I wanted to mention that WKXI is approaching its 40th anniversary (August 10, 1971, when it was on 94.7). I was proud to be part of the ownership/management of the station in its first decade.
 
the golden boy said:
Given that Magic hasn't ventured into radio before (at least, not as an owner), I don't know what to expect. I don't foresee major changes happening, but I do believe a little bit of freshness is in order. Kixie does sound a bit stale at times and 99 Jams, to a smaller extent.
Click to expand...

Wrong. He was the owner of KWBZ Englewood, CO (Denver market) in the early 80s.
 
I doubt that his ownership experience with KWBZ was one of his better investments, which makes me wonder why he would even consider getting into radio ownership in the current shape of the industry. There have to be many more promising investment opportunities than the broadcast media now. Given how many major group broadcasters have gone into bankruptcy of one kind or another in the past several years, I would consider it to be a bad risk at best. About the only worse media investment now would be newspapers.
 
FYI...the same Magic Johnson investment group has invested in three Phoenix FMs. They're all "rim shots" into the Phoenix metro. The stations are "95.1 Latino Vibe" KVIB, a Class C licensed to Sun City West. Rhythmic "Power 98.3" KKFR, Mayer, Arizona, also a full C. And modern rock "X103.9" KEXX, a C1 licensed to Gilbert, Arizona. Magic Johnson Enterprises and The Yucaipa Companies did the deal with Atmor Properties. Magic Johnson says "Market conditions make this the right time to take advantage of this opportunity, and we are confident we have the best leadership team in place to build out an exceptional broadcast radio group."
 
If you want to be successful in the business...you need to have knowledge of every aspect of
operations...from sales to engineering. If not, you depend on others...and that, in this climate, is dangerous. SO...potential buyers if all you have is money...radio IS NOT what you should consider.
A bit of advise from an OLD timer....JBI. (AND...this applies to every business)!
 
I think he spells it "Magic." "Majic" is the poor spelling used by 107.5 when it was soft AC. A long time ago.

(Wow. That station flipped 20 years ago. I'm getting so old.)

DE
 
I like Magic Johnson. It's an investment. He sees an opportunity.
 
I know Magic is looking to buy Inner City as a whole, but how much would the Jackson stations fetch if they were sold separately from the other markets?
 
I've always seem to get confused with Magic or Majic. If if he comes into the Mississippi market, that would be very good. Welcome. (P.S. call me. I'm available for a job.)
 
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