Is it a Wrap for Ebony Magazine? Ebony says “exploring range of options”
Newsweek reports (Ebony: Up for Sale?) that Johnson Publishing Company, founded on a $500 loan could be up for sale. In a Newsweek web exclusive, Johnnie L. Roberts reports
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).
BlackWeb20.com received this official statement from Johnson headquarters in response to our questions concerning the details of the possible sale especially the inclusion of Web properties and a deadline date to complete a transaction before Ebony’s doors will shut close:
Category: News, web 2.0 | Tags: Ebony Magazine for Sale, Johnnie L. Roberts, Johnson Publishing, Newsweek.com, Sale of Ebony Magazine, Survival of Print PublicationsAs we’ve indicated previously, we are exploring a range of options to support our core media business. However, we are not in discussions with Time Inc. and Viacom.
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I am not one for insisting rich black folk give hand-outs, under some premise that there are some poor black folk with their hand out begging. This clearly isn’t one of those cases. We as blacks have to understand we are stronger if we stand together and here is another moment to show how strong our bonds are. This is an opportunity for some wealthy black folk to pool their money together and buy this INSTITUTION of the black community instead of trying to start record labels or clothing lines.
In days were blacks have an ever lessening voice we need to hold on to what is ours. After all there’s a reason why Ebony Magazine was created in the first place. We are going to find out why it was needed if it were to be bought outside our community.
That’s tragic but a sign of the current state of affairs in print media. Perhaps a stimulus package could be offered to bail out black media (print and electronic
It’s also indicative of an aging product and brand. It seems inevitable and soooo so sad.
Oh, this is just sad, not Ebony Magazine! How about sell it to a group of smart “Ebony” people.. I know a few.