Newsweek has a story that says Johson Publishing may put its flagship publication, Ebony, up for sale. It's been a year of excruciating decisions for publishing companies-layoffs, pullbacks, closures. Now it appears 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.It's not a good environment to find a buyer or investor for a print magazine in this economy and in the the digital age. However, the strongest brands, like Ebony, should do the best. Ebony's website can be found at EbonyJet.com.
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).
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