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Target Market News has introduced Black Business Chicago, a new monthly which will spotlight news and features on Chicago's African-American businesses, corporate executives and local economic issues. The publication will also be supplemented by a Web site, blackbusinesschicago.com, that will provide updated coverage of relevant business news on a daily and weekly basis between issues of the monthly print publication. Click for more ____________________________________

Buying Power report: Blacks spend as economy grows
New 16th edition shows $507 bil in spending



The finding comes from the 16th annual edition of "The Buying Power of Black America" report. In 2009, black households spent an estimated $507 billion in 27 product and services categories. ...

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Networks led by Magic Johnson, Sean Combs chosen for carriage by Comcast
 
(February 21, 2012) Comcast Corporation today announced it has selected four new minority-owned independent networks to be broadly distributed on Comcast Cable systems between April 2012 and January 2014.

The network agreements are part of a mandate that allowed Comcast to merge with NBCUniversal. The plan calls for  Comcast to launch ten new independently owned and operated networks over the next eight years.

Having considered more than 100 proposals, Comcast selected four networks. Aspire and REVOLT are majority African-American owned, and El Ray and BabyFirst Americas are majority American Hispanic owned and operated and programmed in English.

"We are thrilled to work with such talented individuals to launch these new networks that will bring exciting and fresh content to consumers," said David L. Cohen, Executive Vice President, Comcast Corporation. "Comcast is committed to delivering programming that reflects the interests of our customers, and we look forward to integrating these great networks into our rich programming line-up."

Spearheaded by entrepreneur and NBA Hall of Famer, Earvin "Magic" Johnson, in partnership with GMC TV (formerly the Gospel Music Channel), Aspire is dedicated to delivering enlightening, entertaining and positive programming to African-Americans families, including movies, documentaries, short films, music, comedy, visual and performing arts, and faith and inspirational programs. The network will launch by summer 2012.

"Aspire will be a network that encourages and challenges African-Americans to reach for their dreams and will appeal to all generations. Aspire will celebrate our heritage, our groundbreaking achievements and the fearless talent that has shaped American culture. I'm most excited about Aspire creating opportunities for the new voices, new visions and the next generation of storytellers," said Earvin "Magic" Johnson.

Proposed by superstar and entrepreneur Sean "Diddy" Combs and MTV veteran Andy Schuon, the REVOLT  network is designed to have programming inspired by music and pop culture, including music videos, live performances, music news, and interviews and will incorporate social media interaction for music artists and fans. The network has entered into an agreement to launch in 2013.

"REVOLT is the first channel created entirely from the ground up in this new era of social media" said Sean "Diddy" Combs. "We're building this platform for artists to reach an extraordinary number of people in a completely different way. REVOLT will be live, like all great moments in television history. REVOLT will also be immediate, like today's social networks. We know it was a highly competitive process and we want to thank Comcast for this opportunity to truly change television with REVOLT."

Headed by legendary Hollywood director Robert Rodriguez and FactoryMade Ventures executives John Fogelman and Cristina Patwa, the El Ray network is designed to be an action-packed, general entertainment network in English for Latino and general audiences that includes a mix of reality, scripted and animated series, movies, documentaries, news, music, comedy, and sports programming.

The El Rey network will include programming that features Hispanic producers, celebrities and public figures. The network has entered into an agreement to launch by January 2014. "This partnership with Comcast signals an important moment for the Latino community in this country -- we are passionate about creating a wildly entertaining destination that we can be proud of by appealing to both Latino and mass market audiences," said Robert Rodriguez and CEO of FactoryMade Ventures John Fogelman.

"We engineered El Rey to address a burgeoning opportunity to deliver unique, high-quality and compelling content to a hard-to-reach demographic and are excited to bring more opportunities to generations of talent, storytellers and dreamers through this special partnership."

BabyFirst Americas network is designed for infants, very young children, and their parents, and emphasizes the importance of early development of verbal, math and motor skills. The network has entered into an agreement to launch by April 2012. "We are thrilled to partner with Comcast and commend them for recognizing the importance of quality education for young children," remarked Constantino "Said" Schwarz, CEO and Chairman BabyFirst Americas. "BabyFirst Americas aims to bring the essential academic building blocks for Kindergarten readiness into the home, making it accessible for families all across the U.S."


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