johnson publishing company bankruptcy
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Star Power: Mellody Hobson and George Lucas Vie for Control of Ebony, Jet Photo Archives
Financier Mellody Hobson and her husband, Star Wars movie mogul George Lucas, are taking steps to take control of Ebony and Jet’s massive archive of historic photos, chronicling African-American life over the last seven decades. The archive is uninsured and at risk, as it was used as collateral to secure a $12 million loan to…
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Iconic Johnson Publishing, the Company That Was Once Behind Ebony and Jet Magazines, Files for Bankruptcy
Johnson Publishing Company, the historic African-American media powerhouse responsible for the start of Ebony and Jet magazines, has filed for bankruptcy. The company sold Ebony and Jet three years ago to a private equity firm, so Tuesday’s filing for Chapter 7 bankruptcy liquidation will not affect the publications, the Chicago Sun Times reports. However, the…