April 23, 2024

Black Entrepreneur History

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Ebony Magazine Has a New Owner in Former NBA Player Ulysses Bridgeman

Former NBA Player and owner of Bridgeman Sports and Media Ulysses Bridgeman is the new owner of Ebony Magazine, saving the historically Black magazine from its bankruptcy status. What was the bid? $14 million.

Ebony Magazine was first founded by entrepreneur John H. Johnson, founder of the Johnson Publishing Company in Chicago, Illinois. Johnson passed away in 2005, but he launched two of the most successful African American magazines in the country, known for highlighting the successes and news in African American lives. Johnson Publishing Company was the largest Black-owned publishing company in America.

The last issue of Ebony was printed in 2019, however, once signed over to Ulysses Bridgeman, we could see more from Ebony under Bridgeman Sports and Media really soon.