Johnson Publishing sells Ebony, Jet magazines to Black Owned Texas firm

From [HERE] After a 71-year run in Chicago, Johnson Publishing is getting out of publishing. Johnson publishing is a black owned company. 

The company said Tuesday it has sold Ebony, its iconic African-American lifestyle magazine, and the now digital-only Jet magazine to Clear View Group, an Austin, Texas-based private equity firm, for an undisclosed amount.

Johnson Publishing will retain its Fashion Fair Cosmetics business and its historic Ebony photo archives, which remains up for sale. The deal, which closed in May, also included the assumption of debt.

It is the first investment in the publishing business for Clear View. [MORE]