It’s the end of an era. Johnson Publishing announced today (June 15) the long running, African-American skewed magazine’s EBONY and JET have been sold.
The Associated Press reports that the magazines (Jet became digital only in 2014) were sold to an Austin, Texas-based private equity firm called the Clear View Group. The price of the sale of was not disclosed.
According the Chicago Tribune, the deal closed in May, with Clear View Group assuming Ebony and Jet’s debt as part of the deal.
For now, most of the staff of the publications will be retained, with Linda Johnson Rice, chairman of Johnson Publishing to assume the position of chairman emeritus of the board of Ebony Media Operations, which will be based in Johnson Publishing’s Chicago HQ.
Johnson Rice is the daughter of John Johnson, who founded Ebony in 1945.