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.    

“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.  

A source familiar with Ebony’s financial difficulties confirmed for BlackAmericaWeb.com that the magazine is being shopped to several potential buyers.

Executives with Ebony said the magazine is considering a myriad of possibilities. 

“As we’ve indicated previously, we are exploring a range of options to support our core media business. However, we are not in discussions with Time Inc. and Viacom,” Ebony said in a statement sent to BlackAmericaWeb.com.

Clem Richardson, a columnist with The New York Daily News, said he finds the prospect of Ebony and Jet no longer being black-owned both angering and frightening.

“I get angry because the company’s financial trouble is more testimony to the notion that African-Americans can’t be fiscally viable, despite our numbers, without white support,” Richardson told BlackAmericaWeb.com Tuesday.

“And I get frightened because Ebony has long shown its readers black Americans at our best, and in showing that, helped us through our worse,” he said.

It’s been a tough year for Ebony. Earlier this year, the company canceled its flagship traveling production, The Ebony Fashion Fair, after a series of layoffs, a highly-publicized top-management reorganization and criticism from senior editors who left the magazine in disappointment.

"I hope that Ebony can retain its current ownership status," Yanick Rice Lamb, associate publisher and editorial director of the black-owned Heart & Soul magazine, told BlackAmericaWeb.com Tuesday.

"Symbolically," Lamb said, "it would be disappointing for so many people since Johnson Publishing has served as such an inspiration for African-American entrepreneurs for more than a half-century."

Bloggers weighed in quickly about Ebony’s dilemma.  

“Where are all the black multimillionaires?” one blogger wrote on The Hinterland Gazette. “Why not form a consortium and be the purchaser of this storied publication?”

According to media reports, Ebony's advertising has dropped to about 35 percent and revenues have plummeted to nearly 32 percent, to $18.8 million from 2008's $27.7 million.

Even showcasing President Barack Obama on the cover didn’t seem to help the magazine with long-term success. Earlier this year, Ebony announced that it had reached the highest sales in the magazine’s 64-year history, with newsstand sales topping 405,000 — more than double an average month.

But that wasn’t enough. A few months ago, Sylvester Monroe, who joined Ebony magazine three years ago as a senior editor, resigned in frustration.

"I was so miserable, it was hard to come to work," Monroe told Richard Prince, who writes a diversity column, “Journal-isms,” for The Robert C. Maynard Institute for Journalism Education. "We're asking people to write for exposure because we can't pay them, which I think is wrong." 

Ebony’s publisher, John H. Johnson, died in 2005. He used his mother's furniture as security for a $500 loan to start Ebony, and he became one of the nation's richest and most powerful black businessmen in America.

Lamb said partnerships aren't always necessarily a bad thing.

"John H. Johnson was a partner in Essence .....

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Change is hard for some. Allowing younger reporters and writers to have an active role in the contents of this historically Black source of information will attract more readers, expanding the exposure providing that much needed income boost. The issues impacting those that are under the age of 40 is critical. Those of us over 40 will continue to be loyal but we must address issues that are important to those that must carry the torch forward.

by   
Islandgranny
October 1, 2009, 1:47 pm
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MikeC, I like me some Jet Booty of the Week.

by   
Jiggy5
October 1, 2009, 12:53 pm
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Real_Change, you hit the nail brother. Sevennotrump is a case study on what is wrong with our people and cultures. Hatred, anger, and blame are adundant...lacking are responsibility, accountability, and moral character. Things will get worse, with no improvement is sight, because that would require hard work.

by   
Jiggy5
October 1, 2009, 12:51 pm
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I am sadden to hear this...we have to protect our own. Johnson worked so hard and his daughter just let it drop

by   
DOMINE
October 1, 2009, 12:10 pm
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I guess Ebony Mag is going the way of B.E.T. Can you say MONOPOLY! I guess the OLDER black leaders would rather line their pockets than provide opportunities to the NEXT GENERATION. This is one of the reasons many educated capable Blacks can't find employment... We sell our souls for a few pieces of gold...

by   
Dopamine
October 1, 2009, 11:39 am
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I'm alright as long as they continue to print Jet beauty of the week. Christ, Mass transit and women!!!! Like Coltrane, these are a few of my favorite things...

by   
MikeCockrell9
October 1, 2009, 4:37 am
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Sevennotrump CONTROL YOURSELF and stop the verbal internet bullying, STOP IT !! We have NOTHING to show for ourselves as blacks because of your complaining and whining mentality, NOTHING. Our cities are FAILING and instead of realizing that the proof of black America's problems are exactly what everyone says they are, you complain about "racism". Stop it brother, be civil, and listen to people when they are trying to provide solutions. If not, as the years go on, black America will get WORSE to the point where I have fear of what the Tribulation will bring. God Bless yall

by   
REAL_Change_is_Needed
September 30, 2009, 9:09 pm
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Linda is the reason the company is failing. The company was handed to her a silver platter. She didn't invest any blood, sweat or tears. She fired all of the long time, hard working loyal employees that were there when her father was alive and bought in her "friends" paying them exorbitant salaries. She allowed them to mind teh store while she partied. Now the s*&# has fit the fan, she is wondering what happened.

by   
Lm60419
September 30, 2009, 3:13 pm
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Linda is the reason the company is failing. The company was handed to her a silver platter. She didn't invest any blood, sweat or tears. She fired all of the long time, hard working loyal employees that were there when her father was alive and bought in her "friends" paying them exorbitant salaries. She allowed them to mind teh store while she partied. Now the s*&# has fit the fan, she is wondering what happened.

by   
Lm60419
September 30, 2009, 3:13 pm
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It has nothing to do with anger, DUMB AZZ white BOY! Anger would prompt hacking through BAW’s tissue paper firewall & get your PI to track you down & deal with you. This is MERELY about conveying to you that the trite, elementary nonsense you post is unimpressive to Black people. We think too well for trailer trash like you to become a nuisance for us.

by   
Sevennotrump
September 30, 2009, 1:21 pm
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Thank you for proving my point Sevennot, the truth will provoke anger. You're one angry brother. Channel it for positive change, not positive blame.

by   
Jiggy5
September 30, 2009, 9:51 am
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Dumb AZZ Klansman, drop dead (Physically –you’re obviously already mentally dead). All print media are suffering. Major newspapers & mags nationwide are in financial trouble. Time mag is being carried by it’s many other diverse investments, AND that’s bad business to do that. The Klan is in trouble because they are down to using idiots like you, uncletom & pollyemptypockets as their voice.

by   
Sevennotrump
September 30, 2009, 9:17 am
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The truth can make you angry for sure.

“I get angry because the company’s financial trouble is more testimony to the notion that African-Americans can’t be fiscally viable, despite our numbers, without white support,” Richardson told BlackAmericaWeb.com Tuesday.

by   
Jiggy5
September 30, 2009, 7:22 am
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