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AFP - Former US basketball legend Earvin "Magic" Johnson's new production company has signed a multimillion-dollar Hollywood movie deal with Warner Bros. Pictures, the studio said.
Johnson's Magic Hallway Pictures inked a deal forging a potential four-year relationship with the top Tinseltown studio to produce up to 10 low-budget teen movies costing $US8-15 million ($A12-22 million) each.
The former National Basketball Association star turned business tycoon formed the company in July with partner Paul Hall.
"Magic Johnson's tremendous business success has grown from his ability to anticipate the appetites and trends of contemporary urban culture," Warner's production president, Jeff Robinov, was quoted as telling the Variety daily.
The pair want to target urban teens with their movies, but they also hope to cross over into the lucrative suburban youth market.
Projects they are developing include a feature adaptation of Jill Nelson's novel Sexual Healing, the story of frustrated women who open a male brothel, according to the Hollywood Reporter.
Onetime Los Angeles Lakers basketball legend Johnson, 44, remains an American youth icon more than a decade after his 1991 retirement. The successful businessman announced in 1991 that he was HIV-positive.
Johnson is founder and chief executive officer of Magic Johnson Enterprises, a conglomerate that includes the Johnson Development Corp, which creates entertainment complexes, restaurants and shopping centres.
©AAP 2003
Johnson's Magic Hallway Pictures inked a deal forging a potential four-year relationship with the top Tinseltown studio to produce up to 10 low-budget teen movies costing $US8-15 million ($A12-22 million) each.
The former National Basketball Association star turned business tycoon formed the company in July with partner Paul Hall.
"Magic Johnson's tremendous business success has grown from his ability to anticipate the appetites and trends of contemporary urban culture," Warner's production president, Jeff Robinov, was quoted as telling the Variety daily.
The pair want to target urban teens with their movies, but they also hope to cross over into the lucrative suburban youth market.
Projects they are developing include a feature adaptation of Jill Nelson's novel Sexual Healing, the story of frustrated women who open a male brothel, according to the Hollywood Reporter.
Onetime Los Angeles Lakers basketball legend Johnson, 44, remains an American youth icon more than a decade after his 1991 retirement. The successful businessman announced in 1991 that he was HIV-positive.
Johnson is founder and chief executive officer of Magic Johnson Enterprises, a conglomerate that includes the Johnson Development Corp, which creates entertainment complexes, restaurants and shopping centres.
©AAP 2003
