(TriceEdneyWire.com) – Johnson Publishing Co., the nation’s most successful African-American owned magazine publisher, is no longer publishing magazines. After more than seven decades, during which it set the bar for Black business success, JPC has sold its magazines properties, Ebony and Jet, to a Black-controlled private equity firm in Texas.
The new owner of the iconic titles is The Clear View Group. To make the transaction possible, the assets of Ebony and Jet were placed under a new company called Ebony Media with Linda Johnson Rice serving as chairman. When Ebony Media was sold to CVG for an undisclosed sum, Johnson Rice assumed the title of Chairman Emeritus and retained both a board seat and an equity interest in the company. Former JPC Chief Operating Officer Cheryl Mayberry McKissack will now serve was CEO of Ebony Media.