Johnson takes flight

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The founder of Black Entertainment Television is going from airwaves to airlines.

Bob Johnson, chairman and CEO of cable network parent BET Holdings, is buying the US Airways Washington shuttle service to create DC Air. Johnson is personally funding the venture under the advisement of Banc of America Securities LLC. It will not come under the auspices of BET Holdings II, which is 35% owned by Liberty Media. Johnson will serve as chairman and CEO of DC Air, as well as continue on at BET Holdings II.

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