Shocking news on the media front: Ebony and Jet magazines are in financial trouble. In the midst of the nation's financial crisis, advertising and circulation have fallen mightily. It is the worst downturn for their owner, Johnson Publishing Co., in its 67-year history.
Contractors have slapped liens on the Black-owned JPC, which has mortgaged its headquarters building in Chicago to the white company that does its printing, R.R.Donnelley. The nation's largest Black-owned media company is said to owe Donnelley $12.7 million.
There is so much to like and dislike about these two publications, but let's hope they can survive, change and thrive. JPC chief Linda Johnson Rice will have to call on much financial and community expertise-- and on the spirit of her father, John H. Johnson, who founded the company and also weathered many, many storms. He transitioned on 08.Aug.2005.
Ms. Rice, your father has not left-- he just went to sit over there with the other ancestors. He can help you through!
[thanks to, and see more at Richard Prince's "Journal-isms"]
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