Friday, January 5, 2018

African-American Company Buys Essence Communications from Time, Inc.

by Mashaun D. Simon

Essence Communications, a brand known for its popular monthly magazine and annual music festival, is once again 100 percent African-American owned.

Time, Inc. announced Wednesday, that Essence Ventures, LLC, an independent African-American owned company, acquired the media company.

“The ESSENCE team has extended the brand’s reach and influence across multiple platforms, solidifying its position as the premier destination for African-American women serving an audience of 16.3 million,” said Time, Inc. President Rich Battista in a memo to staff obtained by NBC News.

Click here for the full article. 

Source: NBC News 

No comments: