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

Hampton to buy Conifex sawmill in Fort St.James

Hampton Lumber will buy the Conifex sawmill in Fort St.James and its… Continue reading

Vintage rides at Show and Shine

Dozens of vintage cars were on display at the 14th annual show… Continue reading

Pine Ridge holds open house

Pine Ridge Modular Homes held an open house event celebrating its 20… Continue reading

Bill Miller receives Lifetime Achievement Award

Anyone who has worked in local government in the Burns Lake region… Continue reading

Sharing our forests with the Lakes District Goshawk

The Northern Goshawk is a powerful raven-sized forest raptor that was once… Continue reading

VIDEO: Clip of driver speeding past B.C. school bus alarms MLA

Laurie Throness of Chilliwack-Kent says he will lobby for better safety measures

Vernon Judo coach pleads guilty to child pornography charges

Bryan Jeffrey McLachlan is set to return to court Sept. 4 for sentencing

Olympic skier from B.C. suing Alpine Canada after coach’s sex offences

Bertrand Charest was convicted in 2017 on 37 charges

B.C. senior’s car vandalized for more than 18 months

Retired RCMP officer determined to catch ‘tagger.’

VIDEO: Driver doing laps in busy Vancouver intersections nets charges

Toyota Camry spotted doing laps in intersection, driving towards pedestrians

Former Canucks goalie Roberto Luongo to retire

‘Bobby Lou’ calls it a career after 19 NHL seasons

Man charged in crash that killed B.C. pregnant woman

Frank Tessman charged for 2018 Highway 1 accident where Kelowna elementary school teacher died

Province unveils 10-year plan to boost mental health, addiction recovery services

The plan, called A Pathway to Hope, focuses on early-intervention services that are seeing high demand

Most Read