The CashFlow

Black consumer publication Target Market News is reporting that officials from Johnson Publishing Company, the celebrated media conglomerate behind Ebony and Jet magazines, are denying previously published reports that they're in sale talks with Magic Johnson Enterprises, the umbrella company for the businesses run by TheCASHFLOW 50 member Magic Johnson.

Rumors that the companies were discussing a sale of the publisher to the ex-NBA star were first aired at Bloomberg.com on February 12; Johnson Publishing execs called Bloomberg's report "a total surprise," according to Target Market News. Stay tuned. . . .