Essence magazine has officially parted ways with Time Inc., making it a fully black-owned company for the first time in nearly two decades. (HuffPost)
Essence Communications is being acquired by a privately held venture formed by Richelieu Dennis, the founder of hair- and skin-care products maker Sundial Brands. (Variety)
Michelle Ebanks, president of Essence at Time Inc., will remain at the helm and have a seat on the board of directors of the new company, which will be branded Essence Ventures. The deal restores Essence to 100 percent black ownership, the new entity said. (New York Post)
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