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

Commercial truck caught dumping waste into river near Trail

Greater Trail RCMP report the company owner has been identified

New residential building under construction at Kerr site

Ground has broken on a four-storey, 44-unit mixed use building

Castlegar police seek dawn home intruder

Man walked into house at 4 a.m., asks son about mother

Kootenay Burlesque Festival returns to Nelson

Over 50 performers will hit the stage at the Capitol Theatre

Four fires still burning in West Kootenay

More than 25 fires were started by lightning in the last week.

VIDEO: B.C. First Nation plans to launch legal challenge after Trans Mountain approval

Meanwhile, Premier John Horgan says he’ll continue to defend the B.C. coast

Federal cabinet ministers visit Edmonton, Calgary, in wake of TMX approval

Natural Resources Minister Amarjeet Sohi is set to visit Trans Mountain Corp.’s terminal in Edmonton

B.C. municipality prepares to forbid overnight camping by homeless despite court ruling

While courts have ruled against blanket bans, Langley City is employing a site-by-site approach

B.C. auditor says Indigenous grad rate highest ever but education gaps exist

The percentage of Indigenous students graduating from B.C. public high schools has hit its highest level ever

Statistics Canada reports annual pace of inflation rises in May to 2.4%

Transportation prices gained 3.1 per cent as the cost of air transportation added 8.9 per cent

MPs hear retired B.C. nurse’s petition to change compensation for fatal medical errors

Teri McGrath wants provinces to implement no-fault system for medical errors

Demonstrators on either side of Trans Mountain debate clash in Vancouver

Crowd heard from member of Indigenous-led coalition that hopes to buy 51% of expansion project

Police investigating fatal collision near Grave Lake

Grave Lake is located approximately halfway between Sparwood and Elkford

Grieving B.C. mom hopes Facebook message leads to new investigation into son’s Surrey homicide

Criminal Justice Branch didn’t lay charges, concluding no substantial likelihood of murder or manslaughter conviction

Most Read