Essence Magazine is once again Black-owned after purchase by Sundial Brands founder
(NNPA)–In a deal that reestablishes Essence magazine as a totally, Black and independently-owned entity, Sundial Brands founder Richelieu Dennis recently announced the purchase of Essence Communications from Time Inc.
The Essence Communications deal also comes a week after Dennis was knighted in his native Liberia by President Ellen Johnson Sirleaf, who admitted him into the Most Venerable Order of the Knighthood of the Pioneer with the Grade of Knight Commander.
Sirleaf reportedly described Dennis as an “Awesome Hero.”
“Talk about surreal,” Dennis said in an interview with NNPA Newswire. “I can’t even bring myself to say [knighthood]. It’s been a phenomenal week.”
Dennis said that the purchase of Essence Communications comes with a deep-seated passion and commitment to making sure that, “we are doing everything we can to leverage the power of the business to impact our community in a positive way and to demonstrate that we can run highly-profitable organizations.”
Dennis continued: “We can also leverage the impact and the resources that those businesses generate to drive economic empowerment and social justice in our communities for ourselves and by ourselves.”
Dorothy Leavell, the chairman of the National Newspaper Publishers Association (NNPA) and the publisher of the Crusader Newspaper Group, said that it was good news to hear that ownership of Essence magazine has returned to the Black community.