According to Reports: Ebony Magazine Cancels the Fashion Fair Event and is Looking for a Buyer for the Publication
Johnson Publishing’s chairman and CEO, Linda Johnson Rice has reached what must have been an agonizing decision: Johnson Publishing is seeking a buyer or investor for its flagship publication, Ebony, in an effort aimed at securing the survival of the nation’s oldest magazine devoted to African-American life. It’s unclear whether the company’s other properties, including Jet, would be part of a possible sale. 
According to media and investment executives familiar with the developments, Chicago-based Rice, the daughter of Ebony’s legendary founder, the late John H. Johnson, has approached, among others, Time Inc., Viacom, and private investors that include buyout firms. Time Inc., the world’s largest periodical publisher, already owns Essence, a monthly lifestyle, beauty, and fashion magazine for African-American women. Viacom, meanwhile, owns BET (Black Entertainment Television). Read more
Was Oprah approached? Were ANY African-American "Millionaires" and entrepreneurs contacted?
ReplyDeleteLooks like a standard move. Build a black business and sell to a non-black so they can take our money and help their own people [ aka the way every black-owned neighborhood business I saw as a kid is now abandoned or owned by asians and latinos, and I mean EVERY business from my 1970's childhood! ]
After seeing how Viacom screwed up BET, I can only imagine what a piece of crap Ebony will become once they take control of it.
It's the defacto standard we adhere to in the usa black community it's called play in the system, but continue to sell yourself as being black. What does it tell you when u see who she is trying to sell her pops magazine to?--->Time Inc., Viacom, and private investors that include buyout firms. Time Inc., the world’s largest periodical publisher. That tells you she wants it to be known as black for the sake of it,and ofcourse some will buy it no pun intended, but we will use the new cliche term "well it was once black atleast they keepin the name still." that's all folks. Don't worry radio one will face the same out come aswell, and we again will see headlines that we are loosing "Black" check the book Black Bourgeoisie, and u will see john johnsons daughter is continuing his legacy, it's about system first to them, system is what we call business. But to them it is a system, that they hope to always continue to play in for generations to come while we blindly march to their drum as being for us.
ReplyDeleteSay no to Viacom. They messed up BET. The Johnson Family should have made offers to people like Steve Harvey, or Stevie Wonder or Tom Joyner or even Cathy Hughes. Tyler Perry or even entertainers like Beyonce, Jay-Z should have been approached as well. Also, Susan Taylor, the former editor of Essence should have been also mentioned too.
ReplyDeleteI'm shocked and saddened that Ms. Rice would sell the magazine to Viacom. John H. Johnson is I betcha rolling in his grave thinking it is a doggone shame that the company he built up is going to be sold by a corporate media company whose reputation is not that good.
both johnson families messed themselfs up, it aint about "you" its about the money, why would making offers to other black entertainers who will wind up in the same situation do anything? stop the reality that will happen anyway? wake up from the pipe dreams please.
ReplyDeleteYou gotta be serious buggin if u think cathy hughes can buy ebony jet, with her billion dollar debt and counting, wake up people pls this is pathetic.