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. The sale of the magazines was closed in May, and no sale price was disclosed.
Johnson Publishing will retain its Fashion Fair Cosmetics business and Ebony photo archive, which is for sale, according to The Chicago Tribune.
The sale of the magazines allows the publishing company to reduce its debt associated with the media industry, Johnson Publishing CEO Desiree Rogers said in a statement.
Ebony magazine was founded by John Johnson in 1945, but had been affected by declining circulation and revenues in recent years as it tried to evolve from print to digital platforms.
Johnson's daughter, Linda Johnson Rice, will serve as chairman emeritus on the board of the new company, Ebony Media Operations. Kyra Kyles will be the new editor-in-chief of Ebony after Kierna Mayo steps down.
"This is the next chapter in retaining the legacy that my father, John H. Johnson, built to ensure the celebration of African-Americans," Rice said in a statement Tuesday.
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Clear View Group chairman Michael Gibson says the company will keep its Chicago headquarters and much of its staff. This is the first investment in the publishing business for the African-American-owned Clear View.
"We made this purchase because this is an iconic brand -- it's the most-recognized brand in the African-American community," said Gibson. "We just think this is a great opportunity for us."
FAQs
In July 2020, former shooting guard for the Milwaukee Bucks shooting guard and businessman Ulysses Lee "Junior" Bridgeman purchased Ebony and Jet for $14 million in December. The publication relaunched in March, according to NPR.
Is Ebony magazine still in circulation? ›
In March 2021, the magazine relaunched in digital format.
What impact did Ebony magazine have on American culture? ›
By redefining the American narrative and shifting perceptions of black history and possibilities, Ebony mobilized national communities around critical periods of social change and became a medium for shared cultural symbols and perspectives.
Who is the target audience of Ebony magazine? ›
Ebony is a monthly magazine that focuses on news, culture, and entertainment. Its target audience is the African-American community, and its coverage includes the lifestyles and accomplishments of influential black people, fashion, beauty, and politics.
Who is the new CEO of Ebony and Jet? ›
Bridgeman Sports and Media named Michele Ghee as CEO of its historic Ebony and Jet brands, according to a release. audience wants and needs with bold informed editorial, brilliant content, and the opportunity to connect with like minded people.
Who is the CEO of Ebony Mag? ›
Mrs. Eden Bridgeman Sklenar serves as owner, Chairwoman, and now also CEO of EBONY and…
Is Jet magazine still online? ›
Publication History
(More details) The magazine ended its print run in 2014, but continues online.
Where is Ebony magazine headquarters? ›
Headquartered in Chicago, IL, Johnson Publishing Company, Inc. is a publishing company founded in 1942. Johnson Publishing Company, Inc.'s magazines include Ebony and Jet.
What is the difference between Ebony and Jet? ›
That publication, Negro Digest, began in 1942. But it was Ebony, a wide-net lifestyle monthly that debuted in 1945, modeled on Life magazine, and Jet, a news and events weekly first published in 1951, that became the commercial center of Johnson Publishing.
How many people read Ebony magazine? ›
Ebony is a monthly magazine which reaches 11 million readers. This magazine has gained a strong national reputation due to its focus on the achievements of African Americans, social issues, current events, business, health, lifestyle, and sports. It is a magazine that recognizes black culture and identity.
The first issue of Ebony magazine—featuring profiles of writer Richard Wright and jazz singer Hazel Scott, and stories about African Americans in publishing, the color line in Brazil and a sale of African art in Philadelphia—is published on November 1, 1945.
Is Ebony magazine being discontinued? ›
The magazine ceased its print edition in 2019 when it fell into bankruptcy. Earlier this year, an online version of the magazine was revived thanks to millionaire and former NBA player Ulysses Lee “Junior” Bridgeman, owner of Bridgeman Sports and Media, who won a bid late last year for Ebony's assets.
How much was Ebony magazine sold for? ›
Michele Ghee is new CEO of Ebony, which is due to relaunch as a digital-only publication on March 1 under new owner, former NBA player Junior Bridgeman. He bought the magazine out of bankruptcy in December for $14 million. A countdown clock on the website, ebony.com, highlights the March 1 relaunch.
What does "ebony girl" mean? ›
With this connotation in mind, the word was later used to refer to Africans whose skin was as dark as the ebony tree's wood. And with that meaning it was later used as a name by some black American parents for their daughters to denote beauty while having dark skin.
Is Jet magazine still in circulation? ›
In June 2014, JET released its last physical issue, opting to move to fully digital. Two years later, Johnson Publishing sold JET and its sister magazine Ebony. Clear View Group, a Texas-based and Black-owned equity firm, still owns both publications in 2022. In 2021, Michele Ghee was appointed CEO of JET & Ebony.
Who is Eden Bridgeman? ›
Eden Bridgeman Sklenar is an entrepreneur, media proprietor, and marketing executive who is currently the owner, Chairwoman and CEO of the iconic brands EBONY and Jet since their acquisition in 2021.
Who owned Ebony magazine in 1966? ›
From Ebony and Jet magazines to advertising and fashion, John H. Johnson's company revolutionized how Black Americans saw themselves. Founded in 1965 by Dudley Randall, Broadside Press became a leading publisher of poetry of the Black Arts Movement.
What magazine did the founder of Ebony and Jet magazine first begin his foray in the black press? ›
Today marks what would have been the 105th birthday of EBONY and JET founder John H. Johnson. The Arkansas city native, who was born in 1918, first made a name for himself in the publishing world when he established Negro Digest in 1942. Three years into circulation of the Chicago-based magazine, Johnson founded EBONY.
