The new owners of “EBONY” magazine and JETMag.com emerged on June 21, unveiling their plans for the iconic Black publications. The announcement came nearly a week after the Chicago Crusader published a story on the sale that was shrouded in mystery.
On Tuesday, a story published on EBONY.com described Clear View Group L.L.C., the company that purchased Johnson’s magazines, as a Black-owned investment firm based in Austin, Texas led by Michael Gibson and Willard Jackson, the chairman and vice chairman, respectively. The partners started the firm in 2015.
In the story, Gibson said purchasing the two publications was a “no-brainer.”
The new owners said that “EBONY,” EBONY.com and JETMag.com will be part of the newly formed group called the Ebony Media Company (EMC). Johnson Publishing Company Chairman Linda Johnson Rice will serve as Chairman Emeritus of EMC. Kyra Kyles, who led the EBONY’s digital operations, will be the magazine’s editor-in-chief and senior vice president of digital editorial.
CVG purchased the Johnson publications in May for an undisclosed price. Columbia College Chicago bought the Johnson Publishing Company building for $8 million in 2010. College officials ditched plans to renovate the building and recently announced that they will put the 11-story property up for sale. Proceeds from the sale will help to fund a new building project, according to Crain’s Chicago Business.