HOME | STATS | PUBLICATIONSREGISTER | ADVERTISE  | CONTACT US | SEARCH


 Register Here 
STAY IN-THE-KNOW!
Are you getting the latest industry news when it happens via
e-mail
?



Click here for free delivery of the Target Market News Bulletin
You'll receive news of breaking stories, exclusives, updates and headlines on the latest developments in African American marketing and media


 Black Stats  
Frequently requested data on African American consumers

Black Buying Power:
 $836 Billion (2010)

Black U.S. Population:
 41.1 million

Top Five Black Cities
 - New York
 - Chicago
 - Detroit
 - Philadelphia
 - Houston

Top Five Black Metros:
 - New York-New Jersey
 - Washington-Baltimore
 - Chicago-Gary
 - Los Angeles
 - Philadelphia

Top Five Expenditures:
 - Housing $203.8 bil.
 - Food $65.2 bil.
 - Cars/Trucks $29.1 bil.
 - Clothing $29.3 bil.
 - Health Care $23.6 bil.
______________________
Q
uick access to key stats
U.S. Census 
Bureau Data

Click here to go to African-American Census Bureau data

_____________________


Copyright
(c) 2011 by
Target Market News Inc.

All rights reserved
Business address:
228 S. Wabash Ave.
Suite 210
Chicago, IL 60604
t.  312-408-1881 
info@targetmarketnews.com

Earvin 'Magic' Johnson reportedly making moves on Inner City Broadcasting

(May 23, 2011) According to published reports, basketball Hall of Famer, Earvin "Magic" Johnson, is quietly making moves that could result in acquiring controlling interest in Inner City Broadcasting Corp. and its flagship radio stations in New York, WBLS-FM and WLIB-AM.

Thedeal.com reported that ICBC's debt of over $230 million currently held by Goldman Sachs and GE Capital will be changing hands to Magic Johnson Enterprises and Ron Burkle's Yucaipa Companies. The pair have already joined forces to make a number of media moves.

The MJE and Yucaipa partnership earlier this year purchased controlling interest in Vibe Holdings, which includes Vibe and Uptwon magazines, and the Soul Train TV archives and name. Most recently it made moves to buy three FM stations in the Phoenix metro area.

The debt transfer does not mean that Johnson and Burkle own Inner City, but the move could mean that the less desirable of ICBC's 17 radio stations could be sold.

Inner City Broadcasting Corporation was founded in 1971 by Percy Sutton, the New York-based lawyer, civil rights activist and politician who passed in 2009. ICBC owns radio stations in New York, New York; San Francisco, California; Philadelphia and Pittsburg, Pennsylvania; Fort Lauderdale, Florida; Columbia, South Carolina; and Jackson, Mississippi.


 
Go to Target Market News homepage

RECENT STORIES
Wonya Lucas, veteran cable exec,  named as president and CEO of TV One

Pittsburgh will again have a fulltime urban radio station after two-year absence

Applications being accepted by Comcast for minority business start-ups program

Black TV Ratings for Week of May 9 - 15 ABC sweeps top spots among TV chart in week without the NBA playoffs

Black Cable TV Ratings for Week of May 9 - 15 Chicago Bulls, Atlanta Hawks attract 4.6 mil black viewers in record-setting game

Lenny Kravitz debuts new music in GlobalHue's 2011 Jeep commercial

Lee Dunham, pioneering McDonald's owner/operator, dies at age 78

Essence president Michelle Ebanks adds title of president of People en Espanol

Radio One reported first quarter revenue growth of 10% to $65 million

BET signs exclusive partnership deal with producers of 'The Game'

Click here for more recent news stories and our news archive

 


 ORDER TODAY!
New "Buying Power" report: Black consumers spend as economy grows
Details $507 billion in expenditures

African-American consumers are cautiously increasing their spending in some key product categories, even as they continue to make adjustments in a slowly growing economy. The finding comes from the 16th annual edition of "The Buying Power of Black America" report published by Target Market News..

In 2009, black households spent an estimated $507 billion in 27 product and services categories. That's an increase of 16.6% over the $435 billion spent in 2008. African-Americans" total earned income for 2009 is estimated at $836 billion...

Story continued...






_________________________________________________________________________________________