Soul Train founder Don Cornelius has sold the million dollar empire he started in the 1970s. The businessman has passed the Soul Train reigns over to MadVision Entertainment Inc., a company with a focus on urban broadcasting.

“After years of offers, I feel the time is now finally right to pass the torch,” said Cornelius in a statement. “The MadVision team understands and respects my vision, and they share my own commitment to seeing the brand rise to the next level.”