Johnson Publishing, the former publisher of Ebony and Jet
magazines, filed for Chapter 7 bankruptcy last week, NPR and others reported.
Founder
John H. Johnson died in 2005, and running the company fell to daughter Linda
Johnson Rice.
In 2016,
Clear View Ventures, a black-owned private equity firm based in Texas , bought Ebony, Ebony.com and Jet.com.
In 2010,
Rice sold the JPC Tower on Chicago ’s Michigan Avenue to Columbia College , NPR recounts.
The company
says it will sell what’s left of its assets, including a photo archive and
Fashion Fair Cosmetics, according to NPR.
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