Ebony and Jet magazines, which have chronicled African-American life for the past 71 years, have been sold to an Austin, Texas-based private equity firm.
Johnson Publishing Co. announced Tuesday that Ebony and digital-only Jet were sold to Clear View Group. The sale of the magazines was closed in May, and no sale price was disclosed.
Johnson Publishing will retain its Fashion Fair Cosmetics business and Ebony photo archive, which is for sale, according to The Chicago Tribune (http://trib.in/1VYkBDc ).
The sale of the magazines allows the publishing company to reduce its debt associated with the media industry, Johnson Publishing CEO Desiree Rogers said in a...