After 71 years of being owned and operated in Chicago, Ebony and Jet magazines have been sold by Johnson Publishing to Clear View Group, an Austin, Texas-based private equity firm. The amount of the sale remains unconfirmed.
Fashion Fair Cosmetics, which is also owned by Johnson publishing, was not included in the Clear View sale. The company’s historic photo archives were not acquired either, however, as reported last year, the massive image collection is still up for bids.
“This is the next chapter in retaining the legacy that my father, John H. Johnson, built to ensure the celebration of African-Americans,” Linda Johnson Rice, chairman of Johnson Publishing and daughter of founder John Johnson, said in a statement. Rice will serve as chairman emeritus on the board of the new company.
Though Jet Magazine went all-digital in 2014, Michael Gibson, co-founder and chairman of Clear View Group says that Ebony magazine will remain in print. Editor-in-chief Kierna Mayo, will be stepping down to “pursue other opportunities” and Kyra Kyles will take her place. Kyles has headed digital content for both Ebony and Jet magazines for the past year. There are also plans in place to push digital content for both publications.