Black Money Business Jobs : Johnson Publishing sells Ebony, Jet magazines to Texas firm

Discussion in 'Black Money Business Jobs' started by Liberty, Jun 15, 2016.

  1. Liberty

    Liberty going above and beyond PREMIUM MEMBER

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    Ebony, a monthly lifestyle magazine targeting African-Americans, was first published in November 1945. Take a look at some of the covers from the magazine's long history

    After a 71-year run in Chicago, Johnson Publishing is getting out of publishing.

    The company said Tuesday it has sold Ebony, its iconic African-American lifestyle magazine, and the now digital-only Jet magazine to Clear View Group, an Austin, Texas-based private equity firm, for an undisclosed amount.


    Johnson Publishing will retain its Fashion Fair Cosmetics business and its historic Ebony photo archives, which remains up for sale. The deal, which closed in May, also included the assumption of debt.

    Read more
    http://www.chicagotribune.com/business/ct-ebony-sold-0615-biz-20160614-story.html
     
  2. UBNaturally

    UBNaturally Well-Known Member MEMBER

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  3. Liberty

    Liberty going above and beyond PREMIUM MEMBER

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    Yeah, I feel some kinda way... I remember collecting Ebony magazines, because they gave me feelings of pride. They were also centerpieces of many of my school projects.

    About 20 years ago, I picked up a 1968 Ebony magazine, with MLK on the cover, for a couple of dollars at a second hand store.

    No, I am disappointed in this sale of the business. I don't expect the new owners to respect the flavor of the Johnson family legacy.....
     
  4. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    :11100:change is the only constant......
     
  5. Liberty

    Liberty going above and beyond PREMIUM MEMBER

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    True.
     
  6. UBNaturally

    UBNaturally Well-Known Member MEMBER

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    :11200:

    • Linda Johnson Rice, chairman of Johnson Publishing and daughter of founder John Johnson, will serve as chairman emeritus on the board of the new company.

    • "This is the next chapter in retaining the legacy that my father, John H. Johnson, built to ensure the celebration of African-Americans," she said in a statement Tuesday.

    ...

    • Cheryl McKissack, who has served as chief operating officer since 2013, will assume the role of CEO of the new publishing entity under Clear View, operating out of the magazine's Chicago office.

    upload_2016-6-15_10-43-21.png

    Cheryl Mayberry McKissack
    was appointed as Chief Operating Officer in January, 2013. In her role, Ms. Mayberry McKissack is responsible for media sales, marketing, production, operations, and research. She also assumes the role of President of the company’s digital business unit which houses properties including the EBONY Collection, EBONY.com and JETmag.com. Cheryl Mayberry McKissack was the founder, President, and CEO of Nia Enterprises, LLC, a consulting firm she has operated for the past 12 years.

    http://www.johnsonpublishing.com/index.php/our-team
    http://www.thehistorymakers.com/biography/cheryl-mayberry-mckissack-41

    Only time will tell, but haven't picked up either magazine in a looong time.
    They would have been better re-branding for the new generation, without loosing the class it continued to have.

    Will keep track of the on-goings, if this turns into a BET in magazine format, then 60+ years can't be erased by what might come. Can't say the same for BET.
     
  7. Liberty

    Liberty going above and beyond PREMIUM MEMBER

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    I read that. But, I have worked at companies that kept senior staff members for selfish reasons. Simply because they knew how to run the business. Then as soon as they (the new owners) learned how to run the business, without the oldheads, they were replaced, pushed out, or just made so uncomfortable they'd resign. Either way, the family is now subordinate to the new owners. They won't be calling the shots anymore.
     
  8. UBNaturally

    UBNaturally Well-Known Member MEMBER

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    Yea, this is more or less an honorary position
     
  9. Liberty

    Liberty going above and beyond PREMIUM MEMBER

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    Yes, that's about it. I hope they have invested their money wisely.
     
  10. chuck

    chuck Well-Known Member MEMBER

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    On point and on time comments!!

    fyi
     
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