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

Q & A with Rio Tinto Operations Director

Inflows between July, 2018 and June 2019 has been the second lowest since 1956

Fraser Lake business offers equine therapy to deal with life stressors

The idea is to have diverse businesses that provide more options to residents and tourists says Kim Watt-Senner

Smithers man receives two-year sentence for fatal car crash

Over a year after a fatal crash, a Smithers man has been sentenced to two years plus a day in jail.

First Nations push for massive conservation area in northern B.C.

Includes ancestral areas of three Kaska Dena First Nations, just shy of the B.C.-Yukon border

VIDEO: Rare white killer whale captured by drone near Campbell River

The transient orca has been named Tl’uk, a Coast Salish word that means ‘moon.’

B.C.-born Carey Price brings young fan to tears at NHL Awards banquet

Anderson Whitehead first met his hockey idol after his mother died of cancer

Licence issue delays boozing while cruising on BC Ferries

Planned June launch for alcohol sales delayed

B.C. school mourns after 13-year-old killed by fallen tree on field trip

Teenager died after being struck and pinned by tree while on a field trip near Sooke

B.C. temporarily halts resource development to protect caribou

The caribou population in northeastern B.C. has dwindled over the last two decades

Students disciplined after anti-LGBTQ signs posted in Kamloops high school

Vessy Mochikas, SD73’s principal for inclusive education, called incident a learning opportunity

‘The Fonz’ gives thumbs up in letter to dyslexic students at B.C. school

Students in Maple Ridge reached out to Henry Winkler after reading one his Zipster books.

B.C. teen killed by falling tree near Victoria

Second youth also injured in freak incident during field trip at Camp Barnard near Sooke

Most Read