Magic Johnson Gets Bailout

Johnson's entry into the television arena comes courtesy of communications giant Comcast Corp. as part of its agreement with the FCC and Department of Justice to diversify the cable landscape.

During the extensive review process, which spanned all of 2010, executives were called before Congress to defend the merger. Rep. Maxine Waters (D-Los Angeles) was particularly tenacious in her grilling of NBCUniversal and Comcast officers, questioning their commitment to hiring and advancing minorities.

Magic Johnson to launch TV network via Comcast