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

Eleventh Annual Battle River Ride for STARS flies past goals

There is also a STARS ride near Rumsey in late summer every year

Buccaneers pillage Irish 36-0

Central Alberta bounces back after off week against Wolfpack

Maskwacis RCMP investigate deaths of two children

The RCMP can confirm that these children were siblings

Coronation RCMP encouraging residents to join the #9PMRoutine

It’s 9 p.m. Are you locked up and secure for the night?

Community mourns the deaths of two Maskwacis toddlers

Siblings found drowned on family’s property

Fashion Fridays: 5 casual summer dress styles

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

A year later, ceremony commemorates victims of the Danforth shooting

It’s the one-year anniversary of when a man opened fire along the bustling street before shooting and killing himself

Ottawa fights planned class action against RCMP for bullying, intimidation

The current case is more general, applying to employees, including men, who worked for the RCMP

Alberta judge denies B.C.’s bid to block ‘Turn Off the Taps’ bill

He said the proper venue for the disagreement is Federal Court

Buccaneers pillage Irish 36-0

Central Alberta bounces back after off week against Wolfpack

Sexual harassment complaints soaring amid ‘frat boy culture’ in Canada’s airline industry

‘It’s a #MeToo dumpster fire…and it’s exhausting for survivors’

How much do you know about the moon?

To mark the 50th anniversary of the first lunar landing, see how well you know space

Bashaw seed cleaning plant holds official opening

New facility operating well since January

Couple found dead along northern B.C. highway in double homicide

Woman from the U.S. and man from Australia found dead near Liard Hot Springs

Most Read