Los Angeles Lakers legend Magic Johnson will be joining ESPN as a studio analyst for the network's NBA coverage, according to a report in the Sports Business Daily, a sister publication of Los Angeles Business. (DIS)

The Federal Reserve Board on Sunday approved Wells Fargo & Co.'s proposed $12 billion buyout of Wachovia Corp. (WB) (WFC)

Vishay Intertechnology Inc. said Monday it has terminated its offer to buy International Rectifier Corp. for $1.7 billion or $23 per share. (IRF) (VSH)

AEG is teaming up with the National Basketball Association build NBA-style arenas throughout China.

The Walt Disney Co. has given a $1.5 million grant to TreePeople as part of an effort to reforest areas of the Los Angeles area damaged by wildfires. (DIS)

Jakks Pacific Inc. made a pair of purchases on Monday -- Tollytots Ltd. and Kids Only Inc. (JAKK)

Sumner Redstone's National Amusements Inc. has completed the sale of $233 million in non-voting stock in both Viacom Inc. and CBS Corp. (VIA) (CBS)

A study of National Hockey League ticket costs for the 2008-09 season shows that both the Los Angeles Kings and Anaheim Ducks have an average ticket price below league averages.