FILE - In this Dec. 10, 2001, file photo, Jet magazine founder John H. Johnson, head of Johnson Publishing Co., sits in his Chicago office. Johnson, Chicago’s iconic Johnson Publishing Co., owner for decades of Ebony and Jet magazines that helped change the image of black people portrayed by U.S. media, filed Tuesday, April 9. 2019, for bankruptcy liquidation in federal court. (AP Photo/Ted S. Warren, File)

Publisher of iconic black magazines Ebony and Jet files for bankruptcy

The company was founded in 1942 by John H. Johnson in Chicago

Chicago’s iconic Johnson Publishing Co., owner for decades of Ebony and Jet magazines that helped change the image of black people portrayed by U.S. media, has filed for bankruptcy liquidation in federal court.

In announcing the petition filed Tuesday, the company said it was “caught in a tidal wave of marketplace changes and business issues which, despite exhaustive efforts, could not be overcome.”

READ MORE: Rogers sells flagship magazines Maclean’s, Chatelaine in deal with St. Joseph

The company was founded in 1942 by John H. Johnson in Chicago when he launched Negro Digest with a $500 loan secured by his mother’s furniture. He later went on to found Ebony magazine in 1945 and Jet magazine in 1951.

Johnson publishing at one time also owned a top-rated Chicago radio station and Fashion Fair Cosmetics.

In 2016, Ebony and Jet were sold to Texas equity firm Clear View Group.

The Associated Press

Like us on Facebook and follow us on Twitter

Just Posted

Chemainus sea walk plans get a boost

North Cowichan to sign right-of-way agreements with VIHA

Local beekeeper wants residents to use pesticides more responsibly

Paula Masyk has kept bees for a little over two months, and has had two pesticide events since then

Sizzling season starts with Summer Fest celebrations in Chemainus

Rotary Club event features plenty of food, entertainment and a parade

Memorial Midget C Hockey Tournament supports Puska

Ladysmith man in need of a kidney transplant receiving abundant financial contributions

VIDEO: Trans Mountain expansion project gets green light, again

Prime Minister Justin Trudeau announced the decision in Ottawa on Tuesday afternoon

Man to be sentenced for sexual abuse of young girl in Nanaimo

Stephen Mark Castleden also sentenced for child pornography-related charges

MPs hear retired B.C. nurse’s petition to change compensation for fatal medical errors

Teri McGrath wants provinces to implement no-fault system for medical errors

Horgan says he’ll still defend B.C. coast after second Trans Mountain approval

Meanwhile, one B.C. First Nation has announced plans for a legal challenge

VIDEO: Firefighters stop blaze from spreading after BMW crashes at Saratoga Speedway

Victoria-based businessmen were ‘corner training’ on Father’s Day when incident took place

Demonstrators on either side of Trans Mountain debate clash in Vancouver

Crowd heard from member of Indigenous-led coalition that hopes to buy 51% of expansion project

Grieving B.C. mom hopes Facebook message leads to new investigation into son’s Surrey homicide

Criminal Justice Branch didn’t lay charges, concluding no substantial likelihood of murder or manslaughter conviction

Ginger Goodwin’s Cumberland cemetery grave desecrated

Just days before the Miners Memorial weekend, Ginger Goodwin’s grave has been… Continue reading

B.C.’s measles vaccination program gains traction in May

More than 15,000 doses of the MMR vaccine has been administered across the province

Most Read