Essence, one of the premier publications geared towards African-American women has just announced that as of January 3 they’re now owned by Essence Ventures LLC – an independent Black company. This comes years after proprietorship was overtaken by Time Inc. in 2005.
Interestingly enough, around the same aforementioned period, the periodical featured mostly lighter skinned and thin models. The image of the magazine has evolved and is apt to showcase African-American woman of all ranges. This new business venture solidifies the need for Black experience and input in mainstream corporate settings.
Essence Communications was established by Edward Lewis, Clarence O. Smith, Cecil Hollingsworth and Jonathan Blount. The initial issue of Essence Magazine was available for viewing May 1970. Famed journalist Gordon Parks served as the editorial director from 1970-1973.
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Since then, Essence has evolved to include the Essence Music Festival – which is boasted as being an extensively and exclusively ranged concert that displays the largest amount of African-American talent. To date, the magazine is circulated at a rate of 1,600,000 and holds an impressive subscription rate of 78%.
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— A.Bella Nakato (@BellaNakato) January 4, 2018
Essence magazine, is again a fully black owned company,
co-founder Richelieu Dennis announced. It has officially parted ways with Time inc. pic.twitter.com/ALHS7pCx6x
— The Gist Of Freedom (@Gistoffreedom) January 4, 2018
⚡️ “Essence re-establishes itself as a 100 percent black-owned firm”https://t.co/no5ILEfImX
— thehawaiiguy (@thehawaiiguy) January 4, 2018
— ARIA (@ariaminor) January 4, 2018
Founder of Shea Moisture, Richelieu Dennis, Acquires Essence From Time Inc. https://t.co/KPwNME2JdK
— Chandra Briggman (@chanbrig) January 4, 2018
It is with great joy that we announced that Essence is under new ownership and is now an independent African-American-owned company. Thank you for being in our corner over the last 47 years. We know that we work for you and nothing makes us happier. ❤️ https://t.co/q2BGN0pxNF pic.twitter.com/CbLQlpK9Qz
— ESSENCE (@Essence) January 4, 2018