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 Banned MEMBER

    Country:
    United States
    Joined:
    Aug 28, 2015
    Messages:
    6,914
    Likes Received:
    1,208
    Gender:
    Female
    Ratings:
    +3,292
    [​IMG]
    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

    Johnson Publishing sells Ebony, Jet magazines to Texas firm

    Johnson Publishing has sold iconic African-American magazine Ebony and other publishing assets to a Texas-based private equity firm for an undisclosed amount
    chicagotribune.com
     
  2. Liberty

    Liberty Banned MEMBER

    Country:
    United States
    Joined:
    Aug 28, 2015
    Messages:
    6,914
    Likes Received:
    1,208
    Gender:
    Female
    Ratings:
    +3,292

    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.....
     
  3. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

    Country:
    United States
    Joined:
    Jun 18, 2004
    Messages:
    33,785
    Likes Received:
    11,739
    Gender:
    Male
    Occupation:
    retired computer geek
    Location:
    north philly ghetto
    Ratings:
    +14,568
    :11100:change is the only constant......
     
    • Agree Agree x 2
    • Like Like x 1
    • List
  4. Liberty

    Liberty Banned MEMBER

    Country:
    United States
    Joined:
    Aug 28, 2015
    Messages:
    6,914
    Likes Received:
    1,208
    Gender:
    Female
    Ratings:
    +3,292
    True.
     
    • Like Like x 1
    • Agree Agree x 1
    • List
  5. Liberty

    Liberty Banned MEMBER

    Country:
    United States
    Joined:
    Aug 28, 2015
    Messages:
    6,914
    Likes Received:
    1,208
    Gender:
    Female
    Ratings:
    +3,292
    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.
     
  6. Liberty

    Liberty Banned MEMBER

    Country:
    United States
    Joined:
    Aug 28, 2015
    Messages:
    6,914
    Likes Received:
    1,208
    Gender:
    Female
    Ratings:
    +3,292

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

    chuck Well-Known Member MEMBER

    Country:
    United States
    Joined:
    Aug 9, 2003
    Messages:
    13,587
    Likes Received:
    2,141
    Gender:
    Male
    Ratings:
    +2,617
    On point and on time comments!!

    fyi
     
  8. Kemetstry

    Kemetstry going above and beyond PREMIUM MEMBER

    Country:
    United States
    Joined:
    Feb 19, 2001
    Messages:
    22,937
    Likes Received:
    5,309
    Gender:
    Male
    Occupation:
    Chemist
    Location:
    Detroit
    Ratings:
    +6,440
    Johnson Publishing hasn't been black owned for some time




    .
     
  9. Liberty

    Liberty Banned MEMBER

    Country:
    United States
    Joined:
    Aug 28, 2015
    Messages:
    6,914
    Likes Received:
    1,208
    Gender:
    Female
    Ratings:
    +3,292
    Jet And Ebony Sold, Ending A 71-Year Run Under Johnson Publishing

    [​IMG]

    Chairman of Johnson Publishing Linda Johnson Rice will retain a position on the board of the company that bought Jet and Ebony magazine.

    ......On if there's a sense of loss in the broader African-American community because of the sale

    LJR: Actually, what I'm hearing is a little more bittersweet, not necessarily a sense of loss. As a matter of fact, I'm hearing more positive things because first of all, it's really wonderful that this is an African-American investment group. So you got two African-American companies coming together and doing business with each other.

    Read more


     
  10. Enki

    Enki The Evolved Amphibian STAFF

    Country:
    United States
    Joined:
    Aug 27, 2010
    Messages:
    7,992
    Likes Received:
    4,866
    Gender:
    Male
    Occupation:
    Civil Eng.
    Location:
    The Third Plane of Existence
    Ratings:
    +5,873
    At least they sold it to someone black...

    Peace!
     
Loading...