(SAN FRANCISCO, Calif.) JUST IN: Johnson Publishing, the company formerly behind magazines such as Ebony and Jet, has filed for bankruptcy: The petition was filed Tuesday afternoon in US Bankruptcy Court in Chicago #AceFinanceDesk reports

#AceFinanceReport – Apr.11: Johnson Publishing Company currently consists of an extensive archive of about 4 million images and 10,000 video assets from its former magazines and a cosmetics business, Fashion Fair Cosmetics: The company’s founder, Johnson H. Johnson, died in 2005. ……………..Johnson Publishing Company previously described itself as the world’s largest African-American-owned and -operated publishing company.

In 2016, it sold Ebony and Jet, its two hallmark magazines and stalwarts within the black community, to Clear View Group: Jet magazine stopped publishing a print edition in June 2014, opting to release only a digital version.

#AceFinanceDesk report …………CNN.Com/ Published:

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