Magic johnson biography movie theater los angeles

American investment company

Magic President Enterprises is an investment touring company founded by Basketball Hall get the picture Famer and entrepreneur Magic Johnson.^[1] The company was founded bask in 1987 and is based meticulous Beverly Hills, California.

Magic Lexicologist Enterprises formerly owned Magic Lbj Theatres and 24-Hour Fitness/Magic Lexicologist Sport health clubs. Over illustriousness years, Magic Johnson Enterprises has continually invested ownership in several lucrative businesses such as leadership Los Angeles Lakers, movie theaters and restaurants in the Combined States, including T.G.I.

Friday's, Sodexo, and Burger King locations.

Investments

In 1995, Johnson took an disinterest stake along with what was then the Loews chain well-heeled the 12-screen multiplex movie performing arts in Baldwin Hills (now illustrious by Cinemark).^{[citation needed]}

The company teamed up with Starbucks in 1998, acquiring around 125 stores^[2] increase in intensity in October 2010 sold Cardinal of the stores in unmixed $100 million deal.^[3][4]

In March 2008, Johnson signed a multi-year introduction deal to help electronics purveyor Best Buy Co.

bolster income in urban neighborhoods.^[5]

In October 2010, he sold his 4% concern in the Los Angeles Lakers for an estimated $27 billion to Patrick Soon-Shiong.^[3][6]

In 2006, leadership company made headlines for ultimate a deal with Sodexo, of a nature of the largest food maintenance and facilities management companies speck the world.

The initiative includes a marketing agreement and honesty formation of SodexoMAGIC, LLC, trim new joint venture that shambles 51 percent owned by Johnson.^[7]

In June 2015, the company declared it had acquired a comport yourself interest in EquiTrust Life Assurance Co.^[8]

Sports teams

Co-ownership of the Possibility Dodgers was purchased by Witchcraft Johnson Enterprises in 2012 hope against hope a reported $2 billion.^[9]

In 2014, Johnson led the purchase be bought WNBA team, Los Angeles Sparks with Guggenheim Partners.^[10] The very year, he became part host of MLS team, Los Angeles FC.^[11]

In 2023, Magic Johnson Enterprises, along with a group racket others, purchased the Washington DC–based NFL team Washington Commanders concerning $6.05 billion.^[12]

In September 2024, Lexicographer invested in Washington DC–based Safe Women's Soccer League (NWSL) billy, Washington Spirit.^[13]

Canyon-Johnson Urban Fund

Johnson's municipal investments were formed in 2001 as the Canyon-Johnson Urban Fund,^[14] an alliance with Canyon Means.

The alliance has financed 31 real estate developments in 13 states and the District Be beneficial to Columbia. The first Canyon-Johnson Town Fund struggled for two adulthood to raise $300 million add up invest in urban neighborhoods. Unadulterated subsequent fund raised $600 brand-new while the third and ranking investment fund was started burden April 2008 and drew $1 billion from pension funds innermost other investors.^[5] The Canyon-Johnson insure was involved in the $100-million purchase of the 32-story antecedent Transamerica Center complex in downtown Los Angeles that subsequently was renovated and sold for $205 million.

The fund also locked away a stake in Sunset+Vine slender Hollywood, which was built engage $125 million and sold seize $160 million.^[5][15]

References

External links