Magic Johnson Enterprises buys Burger King restaurants

Magic Johnson Enterprises, has agreed to buy 30 Burger King restaurants in Atlanta, Birmingham, Ala., Dallas and Miami, effective July 1.

"With these restaurants, we expect that as time passes, new jobs will be created and relationships with minority contractors will be strengthened in these four important cities," Johnson said.

The restaurants will feature memorabilia from the former Los Angeles Lakers' career, but they won't bear his name.

Magic Johnson Enterprises operates movie theaters, Starbucks coffee stores and T.G.I. Friday's restaurants that bear his name in various cities as part of his corporation's plan to help create jobs in urban neighborhoods.