Robert L. Johnson's Continuing Journey
A great Rags to Riches story and great African American success story.
Started BET black Entertainment Television and was sold to Viacom
Johnson - "After I sold BET, I could have done nothing. But my goal is to prove that African Americans can create wealth in every sector. So I decided to create a company with a diverse portfolio."
The RLJ Companies. ..."while starting RLJ Development, a company I formed with Tom Baltimore [formerly a VP with Hilton Hotels], and purchased six hotels in 2001. We instantly became the largest African-American hotel owner in the country. Today we have 144 hotels with an enterprise value of $2.8 billion. I started the RLJ Cos. in 2002." RLJ Lodging Trust (NYSE: RLJ)
Coming full circle with the acquisition of Image Entertainment and Acorn Media Group to form RLJ Entertainment (NASDAQ: RLJE) another publicly traded company from the group that IPO'd Oct 2012. (disclosure: I bought a small position in RLJE)
Also with RLJE I'm the only one who has made a CAPS pick on them; making me the defacto "Score Leader" for the stock. Ha ha ha! A rarity for me in the CAPS universe. ;-)
RLJ could use a few more than 5 players too. 6 now that I'm about ready to make an outperform pick on RLJ cause I like REITs and I like Robert L. Johnson.
So get over there and make an underperform or outperform pick on RLJE. What do you think of them being an under the radar entertainment content and distribution play?