It was announced earlier today that Johnson Publishing sold Ebony and Jet magazines to a new company. According to the Associated Press, the African-American lifestyle magazines was sold to a Texas based private equity firm called the Clear View Group. The sale price of the magazine has not been disclosed. Reportedly, the deal wrapped in May and Clear View Group also relieved Ebony and Jet of their debts as well.

Ebony magazine was founded by John Johnson in 1945. Most of the employees of the magazine will remain on staff, Johnson’s daughter, Linda Johnson Rice will be chairman emeritus on the board of the company, Ebony Media Operations. Also, the company’s headquarters will remain in Chicago.

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Source:Associated Press

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