Magic Johnson, Diddy launching cable networks

Magic Johnson -- basketball player, movie theater mogul and now cable channel magnate. On Tuesday (Feb. 21), Johnson announced that he's set to launch Aspire, a 24-hour cable channel that will focus on "uplifting images of African-Americans."

"This is so exciting for me, I'm pinching myself," Johnson tells the Los Angeles Times. "This is big for myself, for the African American community and the African American creative community. I wanted a vehicle to show positive images and to have stories written, produced and directed by African Americans for our community. Aspire -- that's how I've been leading my life."

THe network could be a home for a revived "Soul Train" -- Johnson bought the "Soul Train" library and brand last year, reports EW.

Johnson is launching his new network under the auspices of Comcast, who promised the FCC it would diversify the cable landscape with the launch of 10 new channels.

On Tuesday, rapper/producer Diddy also announced plans to launch his own cable music network called Revolt.