The monthly lifestyle magazine covers fashion, beauty, entertainment and culture. Richelieu Dennis, CEO of SheaMoisture, at Fashion Week in New York in 2015. On Thursday (Jan. 4), Essencethe nations leading African American-focused publicationwas sold by Time Inc. to a newly formed company backed by Richelieu Dennis, a multimillionaire personal-care-products mogul. Essence is Black A.F., Nottingham said, which is beautiful, but how are they going to [integrate that with BeautyCon]? Citing an abusive work culture, the essays writers also said that Black women at the company are systematically suppressed by pay inequity, sexual harassment, corporate bullying, intimidation, colorism and classism.. The once exalted media brand dedicated to Black women has been hijacked by cultural and corporate greed and an unhinged abuse of power, the writers said in the essay. Radiant Life Magazine is a nonpolitical magazine that aspires to revive traditional culture with lifestyle content that uplifts and inspires readers. I like my face in this, though. Essence Magazine is now 100% black-owned. His firm, Sundial Brands, was founded to provide hair- and skin-care products to minority women, and was inspired by traditional shea-butter recipes found in Denniss native Liberia. And the mid-sized Penske Mediaowner of Variety and Robb Reportjust snapped up Rolling Stone. Its target audience is the African-American community, and its coverage includes the lifestyles and accomplishments of influential black people, fashion, beauty, and politics.. Ebony magazine was founded in 1945 by John H. Johnson, for his Johnson Publishing Company.He sought to address African-American issues . The company announced Tuesday night that it had appointed Caroline Wanga to be interim CEO and that they would launch an independent investigation into the workplace culture. The reason is because of the racist structures that existed in mass retail., He said hair care products were once racially segregated on store shelves but, thanks to his efforts, retailers have come to realize theres a much bigger market opportunity when you engage in Black brands on a fair and consistent basis. For an optimal experience visit our site on another browser. *Terms apply. Forbes reports that he and his cofounder and mother Mary owned 51% of the company and walked away with an estimated $850 million fortune, making them two of the wealthiest Black entrepreneurs in the world. And you can make your world or break it by your own thinking. -Susan Taylor, When is Kwanzaa and my daily Kwanzaa practice, "I saw the Angel in the marble, and carved until I set him free", Prime my subconscious, one hint at a time. Essence Communications announced Thursday that it was acquired from Time Inc. by Essence Ventures for an undisclosed sum. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Lou Carlozo, Editor and Publisherlou@talkingbiznews.comChris Roush, Founderchristopher.roush@quinnipiac.edu, Talking Biz News is a division of Vested LLC31 E. 17th St.New York, NY 10003917-765-8720. Mr. Dennis said that he approached Time Inc. about buying Essence after Time Inc. agreed in November to be sold to the Meredith Corporation, the owner of Better Homes & Gardens and Family Circle, in an all-cash transaction worth about $2.8 billion. This pocket Bluetooth printer lets you print your precious memories before they hit Instagram. We can now invest in women of color as consumers., With Sale, Essence Is Once Again a Fully Black-Owned Magazine, https://www.nytimes.com/2018/01/03/us/essence-sale-black-owned.html. We value Black activism. It is with great joy that we announced that Essence is under new ownership and is now an independent African-American-owned company. We accept that because what else is the ultimate goal in this country?. - Monica Guza .. non-political, real-life look at goodness, decency, and excellence in the world. Despite Dennis promises, Black influencers are still wary. who owns essence magazine | Orbit Despite being profitableand operating the massively successful music festival that anchored the summer-movie hitGirls Tripno major publisher thought that Essence was a worthy acquisition. According to Page Six reporting, the employees are giving Essence executives an ultimatum: respond in five business days or they will release personal testimonials of pay inequity, workplace bullying, lay-offs while on maternity leave and immediately after giving birth and sexual harassment. Using the Black Female Anonymous nom de plume again, they launched a change.org petition to get signatures for their resignation. Essence Names Interim Chief After Claim of Abusive Work Culture, https://www.nytimes.com/2020/07/02/business/media/essence-magazine-accusations.html. Receive updates about new stories in the industry daily or weekly. Headwraps by Queen Fatima Chui. With Sale, Essence Is Once Again a Fully Black-Owned Magazine The first time I picked up an issue of Essence magazine, I noticed Susan Taylors picture. The magazine was founded in 1970 as a black-owned publication for black women who, coming out of the Civil Rights era and in the midst of a new feminist wave, were eager to read not only about fashion and beauty but careers and spirituality too. Essence said that he helped lead the team but never took on the role and responsibilities as CEO. 1035, and the Maine Classic Car Museum has No. I am a believer that when we own our media companies they represent an authentic voice, Ms. Spann-Cooper said. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. But this month, he was back. And last year Denniss firmwhich generates some $240 million in annual salespartnered with Unilever to create a $100 million New Voices Fund to support black female entrepreneurs. A target of Black Female Anonymous is Richelieu Dennis, the owner of Essence Ventures, the parent company of the magazine and Essence Communications. Essence Ventures started in 2017 and is chaired by founder, entrepreneur, investor and philanthropist Richelieu Dennis. The release states further that Essence will focus on expanding its digital businesses and continue to plant its rich content in more global markets (the Essence Festival launched a Durban, South Africa, festival in 2016). The original name in concept was Sapphire. The City of Cacapava, Sao Paolo, Brazil, owns No. In the essay, Black Female Anonymous tied their efforts to the larger social protest movement that has swept the country. Co-founded by Ed Lewis and Clarence Smith in 1968, Essence has been one of the lifestyle go-to companies for African-American women. Adenike Olanrewaju contributed reporting. Articles in classical art, music, craft and architecture aims to showcase the timeless beauty of master artists and craftsman throughout antiquity. Ebanks insists this sacred wall will still be honoredand that Essence is not directly owned by Sundial, but rather a separate Dennis-helmed entity.

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