Time Inc. announced Wednesday, that Essence Ventures LLC, an independent African-American owned company, acquired the media company. The demand for a new America calls for the complete accountability of all Americans, even those of us in Black America and our cultural institutions, the writers said. It focuses on culture, beauty, fashion, and entertainment. I spent 30 years of my life breaking down the racial barriers of beauty, he said. Celebrity OTE - Spring Arts. I thank the entire ESSENCE team for their tremendous passion and unrelenting commitment to driving the brands success. The whole idea when [BeautyCon] was founded was to be an inclusive place for all women to express their individual beauty, Dennis said. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. New CEO of Ebony and Jet maps a comeback for Black magazine - Los This is a BETA experience. The company hired two law firms to conduct an investigation, which found that staff felt overworked and underappreciated but concluded that Dennis didnt engage in behavior that would have amounted to unlawful discrimination, harassment or retaliation. (The anonymous writers of the Medium article did not speak to investigators.). Ebanks will also have equity stake in the business along with the executive team of ESSENCE. Despite being profitableand operating the massively successful music festival that anchored the summer-movie hitGirls Tripno major publisher thought that Essence was a worthy acquisition. We idolize Black capitalism, Black consumerism, and Black wealth over Black people, and I dont see this being an issue at all for them. Essence Ventures LLC, an independent black-owned company today announced its acquisition of Essence Communications Inc., home of Essence magazine, from . He vowed that Essence Ventures would bring heightened inclusivity to BeautyCon. They have allowed us to invest into the business so that we can bring in the infrastructure and resources.. Performing Love: standing by college sisters side for her big day in the A (ATL). Im not surprised people are not talking, DelSol said. Throughout the years, I have seen her with various writers, artists, activists, and its easy to see that she is loved. 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. More curiously, his history with beauty brands, which will be core Essence advertisers, also raises questions about the magazines ability to truly separate its business and editorial sidea core value of traditional media that is quickly eroding in the age of advertorials and native advertising. Founded in 2011 by Marina Curry, a Black woman, BeautyCon was a hub of live events before it started to falter in 2019. American Essence Magazine is also a nonpolitical magazine that aims to showcase the values and traditions of American culture with stores of the people and places, past and present, that helped and continue to help shape this nation. Essence Ventures started in 2017 and is chaired by founder, entrepreneur, investor and philanthropist Richelieu Dennis. Essence Magazine (1970- ) - BlackPast.org who owns essence magazine | Orbit But opting out of some of these cookies may affect your browsing experience. 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She ended her statement with the hashtag #BlackWomenRiseTogether., Black Female Anonymous replied to Ms. Wanga on social media. Subscribe to American Essence After the former CEO Michelle Ebanks stepped down in March, the company announced that Dennis would have direct oversight of the company while it searched for a new CEO. Its true that lifestyle giant CondNast is in the midst of a major austerity program, but its competitor Hearst recently acquired indie publisher Rodale, which owns titles like Mens Health and Prevention. Necessary cookies are absolutely essential for the website to function properly. The strategic vision and leadership that Michelle has provided to ESSENCE over the years have been exemplary, and we are thrilled to work with her and her talented team to provide the necessary resources and support to continue to grow the engagement and influence of the ESSENCE brand and transform this business, Dennis said. iSoloArtist. The cookie is used to store the user consent for the cookies in the category "Performance". The magazine has a circulation of more than one million and its website attracts nearly seven million unique visitors each month. As a woman who writes, and aspires to publish a book, I really admire Susan, and I think that she is one of the most influential women in journalism. Its target audience is the African-American community, and its coverage includes the lifestyles and accomplishments of influential black people, fashion, beauty, and politics.. Ebony magazine was founded in 1945 by John H. Johnson, for his Johnson Publishing Company.He sought to address African-American issues . We also use third-party cookies that help us analyze and understand how you use this website. Today, however, Time Inc. is set to be owned by Midwest magazine publisher Meredith Corporation, which bought the conglomerate late last year in a $2.8 billion take-over, partially funded by the conservative-focused Koch brothers. Essence Magazine is now 100% black-owned. Speculation Centers on Value of Successful Festival. Alexis Nottingham, whose TressesOfAlexis YouTube channel focuses primarily on Black hair care, said she understood that the allegations were found unconfirmed, but still felt uncomfortable with the accusations. The group has given Ms. Wanga, the interim leader, until the close of business on Friday to comply. American Essence | The Epoch Times 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. But Black capitalism looks like misogyny, sexism, and sexual assault. Essence Communications announced Thursday that it was acquired from Time Inc. by Essence Ventures for an undisclosed sum. Inside 'The Epoch Times,' a Mysterious Pro-Trump Newspaper - The Atlantic It also marks the first time a major womens style magazinewhich heavily features beauty-based advertisements and editorialis connected via ownership to a consumer-products company. Essence Ventures is an African-American owned company focused on merging content, community, and commerce founded by Richelieu Dennis, the CEO and founder of Sundial Brands. We value Black activism. So, these Black women in particular, if they come forward, where will they go? 5:11 pm. As we launch BRIGHT Magazine this week, I have in my head the guiding voices of SJN's co-founders. Mr. Dennis has also stepped away from the daily leadership role he had assumed since the departure of Ms. Ebanks, the company said in a separate statement. But this month, he was back. This cookie is set by GDPR Cookie Consent plugin. Articles in classical art, music, craft and architecture aims to showcase the timeless beauty of master artists and craftsman throughout antiquity. 2,017 people have signed it. The magazine focuses on fashion, pop culture, music and black life. We are hiring for both print as well as online articles. Essence Communications will be led by an all-black female executive team. American Essence highlights the morals and traditional. This was an important week for minority media. When The Daily Beast spoke to him this week about his buy up of BeautyCon, Dennis refused to directly answer any questions about the 2020 controversy and his promise to step away from Essence magazine. Time Inc. announced Wednesday that Essence Ventures, LLC, an independent African-American owned company, acquired Essence Communications. On Tuesday two days after the essay was posted Mr. Dennis named her the interim chief executive. Black Women In Hollywood To Know: Creatives | Essence In the summer of 2020, a Medium article was published with damning accusations against Essences owner Richelieu Dennis. I am a believer that when we own our media companies they represent an authentic voice, Ms. Spann-Cooper said. She looked like a statue of an ancient African goddess, sort of that Grace Jones bold look, but with clothes. Bain Capital took a minority stake in Sundial in 2015. Melody Spann-Cooper, chairwoman of Midway Broadcasting Corporation, which owns WVON, a Chicago radio station whose target audience is black, welcomed Essence's return to being an. I could live life on the beach, but it was very cold near Lake Erie. Ms. Wanga joined the company as its chief growth officer on Monday. We knew they wanted to help Black people with Black hair care, especially with people who do their own hair. The reason is because of the racist structures that existed in mass retail., He said hair care products were once racially segregated on store shelves but, thanks to his efforts, retailers have come to realize theres a much bigger market opportunity when you engage in Black brands on a fair and consistent basis. Reporters, poking around, have unearthed intriguing connections: a documentary co-produced with Steve Bannon; a donor who worked at the secretive hedge fund run by the Breitbart benefactor Robert. It is with great joy that we announced that Essence is under new ownership and is now an independent African-American-owned company. Anyone can read what you share. Essence Communications Inc., the 48-year-old mutliplatform brand that owns Essence magazine and the annual Essence Festival, has gone back to black (ownership), having been acquired by Essence Ventures LLC, an independent African-American-owned company, Essence Ventures announced in a press release. This flare shirt is amazing! Under the influence of coconut oil, shea, olive, and a slight bit of gel to hold it. American Essence magazine - The Epoch Times Even with your apology, [victims] still have their trauma and the after-effects. Other businesses and contractors who worked the event were reported to have filed complaints with the Better Business Bureau or sought assistance from collections agencies. Members of the team were excited about the announcement. It is owned by Essence Ventures, an independent African-American owned company focused on merging content, community, and commerce to meet the evolving cultural and lifestyle needs of women of color.. Adenike Olanrewaju contributed reporting. 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. Celebrating 50 Years of Essence as a Black Women's Archive READ: Missy Elliott To Receive Essence 2018 Black Women In Music Honor. Essence's New Owner Sees More Than a Magazine | BoF - The Business of Colorful earrings by @wheatgrass_scorpio. , who will keep her place at the helm of the company will also joining its board of directors. *Terms apply. Since 1970, Essence Communications has served as a source of empowerment for black women across its platforms, including its flagship print magazine, television specials, and the annual Essence . Although financial details remain confidential, Essences sale comes at a precipitous time for both the magazine and the larger media landscape.
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