@AP, Ebony, Ebony Magazine, JET Magazine, Johnson Publishing Company, News -

Johnson Publishing announces sale of Jet, Ebony magazines

@AP, Ebony, Ebony Magazine, JET Magazine, Johnson Publishing Company, News -

Johnson Publishing announces sale of Jet, Ebony magazines

CHICAGO (AP) — Ebony and Jet magazines, which have chronicled African-American life for the past 71 years, have been sold to an Austin, Texas-based private equity firm.

Johnson Publishing Co. announced Tuesday that Ebony and digital-only Jet were sold to Clear View Group but didn’t disclose the sale price.

The Chicago Tribune reports Johnson Publishing will retain its Fashion Fair Cosmetics business and its Ebony photo archive, which is for sale.

Ebony magazine was founded by John Johnson in 1945. It’s been hit by declining circulation and revenues in recent years.

Johnson’s daughter, Linda Johnson Rice, will serve as chairman emeritus on the board of the new company, Ebony Media Operations. Clear View Group chairman Michael Gibson says the company will retain its Chicago headquarters and much of its staff.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The post Johnson Publishing announces sale of Jet, Ebony magazines appeared first on theGrio.


Leave a comment

Related Posts

Nipsey Hussle To Do A Documentary On Dr. Sebi
Dr. Sebi was a Honduran herbalist and self-proclaimed healer. Dr. Sebi was famed to cure all disease with herbs and a...
Read More
Beyoncé And Jay-Z Headline the 2018 Global Citizen Festival to Honor Nelson Mandela's Legacy
At a respectable hour—2:47 p.m. EST on Sunday, to be exact—Beyoncé and husband Jay-Z’s philanthropy and benevolence ...
Read More
In Mexico’s border city, Haitians hailed as success story
TIJUANA, Mexico (AP) — A few blocks from a shelter housing members of a Central American migrant caravan sits the fir...
Read More
Say No Mo', Where Is Video?: The Assassination of E.J. Bradford
1: to murder (a usually prominent person) by sudden or secret attack often for political reasons; a plot to assassina...
Read More

Tags