TITLE

Janet, Magic and Jheryl Busby buy majority stake in Los Angeles bank

PUB. DATE
May 1998
SOURCE
Jet;05/18/98, Vol. 93 Issue 25, p14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Reports that celebrities Janet Jackson and Earvin `Magic' Johnson formed a partnership with Jheryl Busby, former president of Motown compay, to purchase controlling shares in Founders National Bank, a black-owned bank in South-Central Los Angeles, California. Estimated amount of money paid for a 51 percent share in the Founders National Bank; Name of the alliance; Joint statement made by Jackson, Johnson and Busby.
ACCESSION #
643661

 

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