Ebony magazine for sale

[Pragmatic]

Potential Sale Of Ebony Breeds Anger

By News One October 2, 2009 1:56 pm


From Black America Web:

Is Ebony magazine for sale? And is the legendary black-owned publication on the verge of being purchased by a white media company?
Business insiders say that Ebony, the 64-year-old black-oriented magazine founded by John H. Johnson in 1945, may be looking for a buyer – and soon.
RELATED: Report: Ebony Magazine Up For Sale
“Now it appears Johnson Publishing’s chairman and CEO, Linda Johnson Rice, has reached what must have been an agonizing decision: Johnson Publishing is seeking a buyer or investor for its flagship publication, Ebony, in an effort aimed at securing the survival of the nation’s oldest magazine devoted to African-American life,” Newsweek reported in last week’s edition.
Newsweek said that Rice has contacted Time Inc. and Viacom about a possible purchase of Ebony or a partnership. Time Inc. bought Essence magazine – a publication for black women – in 2000. Viacom purchased BET in 2000.
Potential Sale Of Ebony Breeds Anger | NewsOne

Peace be upon you

[Pragmatic]

Dr. Boyce: Black Scholars Speak Out on the Sale of Ebony Magazine


Posted by Boyce Watkins, PhD on Oct 1st 2009 6:40PM
Filed under: News, Opinion, Race and Civil Rights

I've always felt that the role of black scholars is to speak up and out on issues of relevance to the African American community. Rather than hiding in our offices and writing papers for scantily read journals on business management, we should all hear more from black intellectuals with management expertise. As that old commercial for the United Negro College Fund used to say, "A mind is a terrible thing to waste." But academia is full of wasted minds, since the majority of all black Americans are entirely unaware of the research findings of blacks who've been contained by the academy.

I found a couple of scholars willing to speak up on the Ebony Magazine sale and I know a few more. The two I spoke with most recently were Dr. Deborah Stroman, a Professor at The University of North Carolina Chapel Hill. Dr. Stroman is not just a professor, but she is also the owner of LASER - Life After Sports with Effective Results, a company that helps athletes transition into productive lives when their athletic careers are over.

When it comes to the pending sale or potential bankruptcy of Ebony Magazine, Dr. Stroman had this to say:
Business knows one only color – green. Whether one has a history of success or newfound fame, businesses must continue to make a profit. Unfortunately, the announcement recently made by Johnson Publishing Company, Inc. the world's largest African-American-owned and-operated publishing company, reflects the simple fact that long-term financial projections reveal that there is more month left than money.

Dr. Stroman then goes on to highlight the business lessons we can all learn from the experience of Ebony Magazine:

1)Know and stay in tune with your audience. The graying demographic that historically supported Ebony can't be relied upon for financial stability in recessionary times.

2)Embrace technology or get left behind. Experts have clearly articulated the dying of print media over the past decade.

To read more of what Dr. Stroman had to say, please click here.

I also spoke with Dr. Wilmer Leon, an expert on black politics and black history. Here is what he had to say:


During segregation Ebony and Jet magazines were key sources of information for the African American community about the community. With integration, too many of us left our communities, churches, and culture behind in order to assimilate into the dominant culture. With that, for too many, Ebony no longer reflects the community they live in; aspire to live in or a lifestyle that they see as relevant. I have always felt that Ebony needed to incorporate more relevant political/economic/business information, analysis, and content to appeal to the growing African American middle and upper class. Life style and entertainment is great but that needs to be supplemented with the relevant information to maintain that life style. It's a difficult mix to maintain but necessary.

Dr. Leon goes on to make it clear that the sale of Ebony/Jet doesn't mean that they will cease to exist. To read more of what Dr. Leon has to say about the pending sale of Ebony Magazine, please click here.

When it comes to the sale of Ebony Magazine, the bottom line is this: Black scholars should have something to say when our most prestigious institutions are in jeopardy. Even if the management at Ebony Magazine doesn't listen, the public usually will. When I discussed this topic the other day with the Rev. Al Sharpton, there was a general concern among those within the audience about the possible loss of something they deem to be precious. Media is incredibly powerful; it shapes the minds of our youth and directs the attention of adults. By losing control of all major black media, our minds and destinies can be put into the hands of those with ulterior motives. I am not sure we would want that.


Dr. Boyce Watkins is a Finance Professor at Syracuse University, 2007 Black Speaker of the Year and author of the forthcoming book, "Black American Money." To have Dr. Boyce commentary delivered to your email, please click here.



Peace be upon you

Dr. Boyce: Black Scholars Speak Out on the Sale of Ebony Magazine - BV Black Spin