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

Rock Creek family inspiration for new boxing event

Rock Creek will host some of the best provincial boxers at Rumble in Rock Creek

Fruitvale man identified in fatal zipline accident in Thailand

Spencer Donaldson, 25, was from Fruitvale, B.C., the city’s mayor has confirmed

Fruitvale man, 25, dies after falling from zipline in Thailand, reports say

Bangkok Post says man fell from Flight of the Gibbon zipline in Chiang Mai

VIDEO: Driver in bizarre hit-and-run at B.C. car dealership turns herself in

Police believe alcohol was a factor in incident causing estimated $15,000 in damages

Canadian privacy watchdogs find major shortcomings in Facebook probe

The probe followed reports that Facebook had let an outside organization use an app to access users’ personal info

B.C., Ottawa talk 50/50 split on abandoned bus-route service

B.C. has paid $2 million on a bus service for the northern part of the province

‘B.C. cannot wait for action’: Top doctor urges province to decriminalize illicit drugs

Dr. Bonnie Henry says current approach in ‘war on drugs’ has criminalized and stigmatized drug users

B.C. woman, 76, challenges alcohol-screening laws after failing to give breath sample

Norma McLeod was unable to provide a sample because of her medical conditions

New report on 2017 wildfires calls for better coordination with B.C. First Nations

Tsilhqot’in National Government documents 2017 disaster and lists 33 calls to action

B.C. youth coach banned amid sexual harassment, bullying scandal: Water Polo Canada

Justin Mitchell can’t take part in Water Polo Canada events or clubs

Wilson-Raybould: Feds want to just ‘manage the problem’ of Indigenous Peoples

Former federal justice minister speaks at First Nations Justice Council meeting in B.C.

Boating incident claims life on East Kootenay lake

A young man has died after a canoe overturned in Moyie Lake early Tuesday morning

Most Read