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From The Atlanta Post: The end of an almost 70-year legacy is upon us as the last bastion of black-owned media space known as the Johnson Publishing Company, owner of Ebony and Jet magazines, will now only be partly black-owned.Johnson Publishing announced last week that JPMorgan Chase & Co.'s special investments group has acquired a "substantial" minority stake in the company. It is the first time in the company's history that it will not be fully family-owned.
Find out what that means for the black audience here.
Comments: (39)
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By: pimpinperry2 on 7/13/2011 4:49PM
Black Enterprise. Essence, BET and now Ebony/Jet what little control we had over our images is now gone. Even though with BET - there programming is now much better then all of the degrading rap videos that they used to play.
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By: Michel IX on 7/13/2011 9:10PM
Every Black Person who has an account with Chase should take their money elsewhere. And when they take it out they should tell the company they are doing so to protest the take over of our publications.
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By: David W Finney Jr on 7/21/2011 10:38PM
It is not a buyout it is a sell out, (as in "forget 'yaw'I got mine)!!"
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By: OneLove on 8/01/2011 3:01AM
Bull!
When I had a billing dispute with Dell Computers, Chase stood by my side when other credit card went running! The Attorney General got involved with the case and Dell had to pay me the back money and a penalty. I only carry Chase and American Express!
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By: B WILEY on 7/15/2011 2:27AM
its unlikely that Chase "took over" Ebony/Jet. Ebony/Jet management was looking for an investor because they needed cash. The dwineling number of pages in the magazines is a tellin sign the company was in trouble, which has gbeen confirmed by recent news articles. I guess because of the economy and the internet, both advertising and subscription revenues are down. Also, they have serious competition from other magazines. I think Chase came to the rescue of a magazine that was strugtgling to survive. If you really want to help, make sure that you and your friends subscribe to their publications. Its easier for Ebony to sell advertising when they can boast of increasing subscriptions. .
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By: Ronald Grant on 7/16/2011 4:06AM
Chase didnt take over Jet/Ebony. The fact is, the publication only caters to LA, Chicago, NY and points on the east coast. Hell, I stopped buying Jet over 15 years ago just for that reason. If anything happens in the midwest other than Chicago or Detroit, we never read about it here in Oklahoma and the other mid/southwest states. So I wouldn't be losing anything with Chase's buying a minority stake in the magazines. However, I dont bank with Chase for personal reasons so my money is not a factor with them. I dont spend money with them and I dont buy their services.
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By: Shannon on 7/18/2011 12:41AM
It is "our fault" but I do my part by purchasing the subscription as Christmas gifts for as many people that I think will enjoy it as much as I do.
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By: chris on 7/16/2011 1:58AM
Loosing them both to White business, is a disgrace. As hard as Mr and Mrs Johnson worked and established this legacy, I was praying that their daughter would keep the promise. She needs to revaluate. This is our only pride, do not be a sell out like Essence. All will have is Oprah and that is a different type of publication. Where is her since of black pride and telling our stories that no one will do? Pissing me off.
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By: luvingmylocks on 7/16/2011 2:52AM
I hope you AA don't blame anyone but yourselves for this terrible move,we will not be loyal to anyone or anything.The internet has driven you all to facebook,and othersites that's none void and useless.We had a good thing that was very personable for our children,we didn't take the information serious,and our kids will really be at a loss because they will never gain that kind of BLACK HISTORY AND KNOWLEDGE AGAIN.Once another culture get their hands in our business it's going to get distorted and taken away.We never miss our water until the well runs dry ,well it has and guess who watched it wither and dry up.The good ole west is still alive and the stories are still being told to other children's culture,unfortunately our Parent's doesn't have a lot of Black History under their belts to help our children and the magazines were like a tool for parents to help their kids with some history and current issues.OH WELL WHY CRY OVER SPILLED MILK,WHATS DONE IS DONE ,ISN'T THAT THE WAY WE THINK, NO FIGHT LEFT IN US.ANY OTHER RACE WILL FORM RALLYS AND DO SOMETHING ABOUT IT FOR THEIR CHILDREN'S SAKE.!!!!WELL IF IT'S NOT ABOUT JOBS AND HOW BAD THE ECONOMY IS WE DON'T GET EXCITED!!!
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By: Blacqbody on 7/20/2011 3:13PM
You are so correct in your assertion! Our black people have NO ONE to blame but US. Many will be loyal to companies, etc. that give "less than a rat's azz about black people" and at the same time SEE no loyalty to black-owned businesses. Facebook, My Space and sites such as this are not OWNED by black individuals. Our children will ultimately be the ones that suffer due to our race not being cohesive. These were exellent sources of information regarding blacks and our history. And you're correct--once another culture, such as what we've witnessed with BET, "controls" what we read, information will be distorted. Thus, how other races will perceive black people. Other races would rally and "protect" what is theirs and do something about it. We should preserve our history for we have a story to tell as well. This is also a slap in the face to those before us that gave their very lives to ensure that we continue to evolve as a race and to high-light our accomplishments.
Apparently Linda Johnson-Rice does not recognize that in being a black woman, she also carries the responsibility of helping to continue our proud legacy moreso than becoming just "another unconcerned black bourgeosis." Please don't call yourself a sista. You are less than deserving to be referred to as "sista."
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