Should Magic Johnson buy Ebony magazine?

Should Magic Johnson buy Ebony magazine?

"From News One for Black America:":http://newsone.com/nation/boycewatkins/dr-boyce-should-magic-johnson-buy-ebony-magazine/ Billionaire investor Warren Buffett once said that he would never buy any newspaper for any price, since the industry has potential for unending losses. Besides financial positions he holds in a couple of media companies (for reasons that I won't go into), Buffett avoids that industry like the plague. Magazines aren't much different from newspapers, since people just don't have an appetite for paper anymore. When the Internet stepped into media, the entire game changed, and I believe that it has changed for the better: barriers to entry have been eliminated, and power is not concentrated to a select few, but shared in a more Democratic fashion. Black America is no different from everyone else, as we've slowly put down our Ebonys and Jets, and are now getting our news with the click of a mouse. We are more likely to read sites like NewsOne, TheGrio and Black Voices than we are to actually pay money to carry around a pile of paper with week old information. The juggernauts of media are dying a slow death, as media has opened up in ways we never thought possible. Click "here":http://newsone.com/nation/boycewatkins/dr-boyce-should-magic-johnson-buy-ebony-magazine/ to read the rest of this story.