Magic Johnson Invests In Radio Stations

The former NBA all-star player and savvy businessman is working with Ron Burkle’s L.A.- based Yucaipa Companies to buy Riviera Broadcasting LLC’s three FM stations in Phoenix, Arizona. The stations are KVIB "95.1 Latino Vibe,” a Class C licensed to Sun City West, Rhythmic KKFR "Power 98.3," in Mayer, Arizona, also a full C, and modern rock KEXX "X103.9,” a C1 licensed to Gilbert, Arizona. While the stations may not be Urban, it’s a positive step in the right direction for minority ownership.