In a Newsweek report (Ebony: Up for Sale?), word is that Johnson Publishing Company, founded on a $500 loan could be up for sale. Johnnie L. Roberts reports in this web exclusive [spotted over at BlackWeb2.0]:

According to media and investment executives familiar with the developments, Chicago-based Rice, the daughter of Ebony’s legendary founder, the late John H. Johnson, has approached, among others, Time Inc., Viacom, and private investors that include buyout firms. Time Inc., the world’s largest periodical publisher, already owns Essence, a monthly lifestyle, beauty, and fashion magazine for African-American women. Viacom, meanwhile, owns BET (Black Entertainment Television).

Remember when Vibe Magazine’s neck was on the chopping block? The hip-hop world literally stopped to pour out some liquor for one of its own and although the Quincy Jones-inspired mag came back with a vengeance, does Ebony have that same staying power?

It’s audience skews towards an older demographic and they haven’t fallen into the MediaTakeOut world of “journalism” that may or may not help them gain new readers. But while Ebony denies being in talks with Viacom or Time, Inc. it’s apparent that not everything is kosher over at one of the longstanding mags that we’ve had.

…If Ebony goes the way of the dinosaur do you think that will have any effect on today’s urban entertainment landscape? Or has the legendary magazine ran its course with today’s ADD generation? Speak on it below!

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