In the News: Egyptian President Finally resigns; Facebook Justice; Magic Johnson Catches the VIBE

A few noteworthy headlines around the Web

UPDATE: Mubarak Remains in Relinquishes Power

  • After ongoing unrest and protests that began late last month, Egyptian President Hosni Mubarak finally stepped down today (Feb. 11). The news was delivered in a one-minute announcement on state television, by Vice President Omar Suleiman, who announced that the Supreme Council of the Armed Forces will “run the affairs of the country.”

Virginia’s First Black Chief Justice Leroy Rountree Hassell, Sr. Dies at 55

  • Virginia Supreme Court Justice Leroy Rountree Hassell, Sr. died on Tuesday—a month after recuperating from a hospital stay.
  • The state’s first black chief justice appeared frail while giving a speech at the Virginia Bar Association, where he was granted the group’s Distinguished Service Award. A frail Hassell mentioned his health in passing, attributing it to a bad reaction to medicine.
  • The Norfolk native’s health was called into question after he missed the January session and the governor’s state of the commonwealth address Jan. 12 due to the recent hospitalization.
  • Hassell leaves behind a wife and three children.

Facebook Firing Case Resolved

  • The Facebook case that made many question what you legally can and can’t say on your social media accounts has been settled.
  • Dawnmarie Souza with the National Labor Relations board agreed Tuesday to end a lawsuit sparked by the insulting remarks she made about her boss and fellow employees via the social media site. The settlement came after Souza’s former employer—American Medical Response of Connecticut Inc.—agreed to tweak their current rules so they don’t restrict the rights of employees, according to The Wall Street Journal.
  • The financial terms of the settlement are being kept private.

Magic Johnson to Become Chairman of Vibe Holdings

  • Magic Johnson Enterprises alongside The Yucaipa CompaniesRon Burkle inked a deal Wednesday that will name the retired Lakers point-guard turned entrepreneur as chairman of Vibe Holdings, the parent company for urban brands such as Vibe Magazine, Vibe.com, Uptown Magazine and widely-respected television enterprise Soul Train . Both Johnson and Burkle will join Leo Hindery at InterMedia Partners, the company’s existing owner.
  • “We are excited to have Magic Johnson and Ron Burkle as partners in Vibe Holdings,” said Peter Kern, Managing Partner at InterMedia Partners, in a press report. “They bring enormous experience and expertise in building businesses, particularly in the consumer groups served by our content. We have already assembled a great group of assets and brands which have strong momentum in the market; with the help of our new partners, we believe we can build.”
  • The terms of the agreement were not released, however, it has the potential to bolster Vibe Holdings into a wider urban media market.

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