Magic Johnson Theatres Magic Johnson Theatres Magic Johnson Theatres is a chain of movie theaters, originally developed in 1994 by Johnson Development Corporation, the business holding of basketball player-turned-entrepreneur Magic Johnson, and Sony Pictures Entertainment through a partnership with Sony-Loews Theatres. A 1998 merger between Sony-Loews and Cineplex Odeon Corporation caused them to become part of the new Loews Cineplex Entertainment Corp. Currently the chain's former locations are owned by AMC Theatres, after Sony-Loews was acquired by that company in 2006. Although they are still branded Magic Johnson Theatres, they are solely controlled by AMC. Earvin "Magic" Johnson, Jr., is no longer actively
Magic Johnson to him. Johnson learned everything he could about business, often meeting with corporate executives during road trips. Johnson's first foray into business, a high-end sporting goods store named Magic 32, failed after only one year, costing him $200,000. The experience taught him to listen to his customers and find out what products they wanted. Johnson has become a leading voice on how to invest in urban communities, creating redevelopment opportunities in underserved areas, most notably through his movie theaters and his partnership with Starbucks. He went to Starbucks CEO Howard Schultz with the idea that he could successfully open the