This was an important week for minority media. Essence Magazine Leaves Time Inc. And Is Now Completely - Okayplayer Essence's New Owner Sees More Than a Magazine | BoF - The Business of You may negotiate rate based off experience and expertise. Under the agreement, the $2.8 billion deal would include Time, Fortune and Sports Illustrated. - Charles Middlemas Uplifting stories about exceptional Americans. With the sale of Essence magazine to a personal-care products mogul, the publication is once again fully black-owned for the first time since 2000. Inside 'The Epoch Times,' a Mysterious Pro-Trump Newspaper - The Atlantic Essence Communications announced Thursday that it was acquired from Time Inc. by Essence Ventures for an undisclosed sum. This article was originally published in American Essence magazine. IE 11 is not supported. Dennis sold his cosmetics company Sundial Brands to Unilever for an estimated $1.6 billion in 2017. I see you, with my black panther intuition, They say, you made your bed, now lay in it! So, I make sure I dwell in a spiritual, spirit-filled bed. Im not surprised people are not talking, DelSol said. We know that we work for you and nothing makes us happier. Sundial Brands announced in November a partnership with Unilever to acquire Sundial. Edward Lewis, Clarence O. Smith, Cecil Hollingsworth and Jonathan Blount founded Essence Communications Inc. (ECI) in 1968. And last year Denniss firmwhich generates some $240 million in annual salespartnered with Unilever to create a $100 million New Voices Fund to support black female entrepreneurs. In addition, Ebanks, along with a Black female-led executive team, will have an equity stake in the business. Essence currently reaches over 16 million people via social media, print, digital engagement and live events, according to a spokeswoman for Essence Ventures. He vowed that Essence Ventures would bring heightened inclusivity to BeautyCon. The Life And Legacy Of ESSENCE | Essence Mr. Dennis sold Sundial Brands to Unilever that month. Magazine articles are $250 per article. That reality was reflected by Johnson Publishing Companys sale two years ago of Ebony and Jet to a private equity firm in Texas, creating a void in black-owned media companies. AMERICAN ESSENCE brings to you stories that remind us of the promise of America. We are hiring for both print as well as online articles. As part of the growth plan, we will launch and/or acquire new content verticals and new brands in order to super serve our community of women,says company president Michelle Ebanks, who is leading Essences all-female executive team. Why the FT bought a majority stake in Endpoints News, Vice News Tonight canceled, company announces layoffs, The Messenger hires Scotti as a biz and finance editor, Traditional Art (Paintings and Sculptures from Renaissance to early 1900s), Classical Architecture and Houses of Beauty in America as well as Europe, History of Performative Art (opera, theatre and ballet), All applicants must send a sample of their writing along with their resume. Instead, he framed his latest venture as part of a mission to fight racism in the retail industry. The anonymous essay was published at a time when many other media companies have wrestled with race and discrimination against Black employees and other workers of color. Bain Capital took a minority stake in Sundial in 2015 in a deal that valued the company at roughly $700 million. Thoughts have power; thoughts have energy. The future of Essence was uncertain when it was announced Meredith Corporation was buying Time Inc. in November. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Essence Appoints New CEO Following Allegations Owner Richelieu - Forbes We may earn a commission from links on this page. This will give Essence a platform and a voice to serve its consumers, which are women of color, Dennis told the New York Times earlier this week. Were never lacking content; were never lacking a story; were lacking an opportunity to compete, she added. Its branding was so popular . Essence has necessarily brokered introductions between Black ideas and Black people. Necessary cookies are absolutely essential for the website to function properly. We wish you could have been in the room to see the excitement and pride on the Essence Teams' faces as we gave them the good news, according to a statement on the Essence website . Continuing in our tradition, we're introducing you to the masterminds behind some of the most popular. Essence Ventures was founded in 2017 by Richelieu Dennis, who also. The brand was looking for another buyer and has apparently found one with Essence Ventures, which was founded and is chaired by Liberian-American Richelieu Dennis, who also is founder of SheaMoisture (in November, Unilever acquired the parent company for SheaMoisture, Sundial Brands). Ms. Wanga joined the company as its chief growth officer on Monday. The anonymous essay suggested that many Essence employees believe he has not lived up to that statement.
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