Baller Alert
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
No Result
View All Result
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
No Result
View All Result
Baller Alert
No Result
View All Result

Essence Acquired By Independent African-American Owned Company; All-Black, All-Women Executive Team To Own Equity Stake In The Business

by MsJennyb
January 3, 2018
Reading Time: 1 min read
0
Share on FacebookShare on Twitter

Essence Communications Inc., which owns Essence Magazine and Essence Festival, has been acquired by an independent African-American-owned company, Essence Ventures LLC.

⠀⠀⠀⠀
According to The Root, Essence Ventures announced that the black women’s lifestyle guide has gone back to black ownership with its acquisition. The company, acquired by Richelieu Dennis who is also the founder of Shea Moisture, plans to expand the multi-platform brand’s digital businesses, as it continues to “plant its rich content” in more global markets, according to Essence Ventures’ release.
⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀
“ . . . [W]e are excited to be able to return this culturally relevant and historically significant platform to ownership by the people and the consumers whom it serves, and offer new opportunities for the women leading the business to also be partners in the business,” Dennis said of the Essence brand acquisition.
⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀
As for Essence’s leadership, the brand’s president will continue to head the company, however, she will also join the board of directors and receive an equity stake in the company.
⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀
“This acquisition of Essence represents the beginning of an exciting transformation of our iconic brand as it evolves to serve the needs and interests of multigenerational black women around the world in an even more elevated and comprehensive way across print, digital, e-commerce and experiential platforms,” Michelle Ebanks said. “In addition, it represents a critical recognition, centering and elevation of the black women running the business from solely a leadership position to a co-ownership position,” she continued, in reference to the brand’s executive team, which is comprised of black women.

Share this:

  • Click to share on X (Opens in new window) X
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on Mastodon (Opens in new window) Mastodon
  • Click to share on Reddit (Opens in new window) Reddit
  • Click to share on X (Opens in new window) X
  • Click to share on WhatsApp (Opens in new window) WhatsApp
  • Click to share on Tumblr (Opens in new window) Tumblr
  • Click to email a link to a friend (Opens in new window) Email
  • Click to share on Pinterest (Opens in new window) Pinterest

Like this:

Like Loading...

Discover more from Baller Alert

Subscribe to get the latest posts sent to your email.

Tags: essence

Related Posts

Hulk Hogan Suggests Fans Should Forgive His Racism Scandal Like They Did Chris Benoit
News

Hulk Hogan Reportedly Passes Away at 71 Following Cardiac Arrest at Clearwater Home

July 24, 2025

WWE legend Hulk Hogan reportedly passed away at the age of 71 early Thursday morning after suffering a cardiac arrest...

New Dating App “Tea”
News

New Dating App “Tea” Has Men Heated for Exposing Cheaters and Red Flags

July 24, 2025

Women Are Downloading “Tea” to Share Dating Intel—and Men Are Not Happy About It A new app called Tea is...

Jay-Z’s Rape Accuser Wants His Lawsuit Thrown Out
News

Rymir Satterthwaite Drops Paternity Lawsuit Against Jay-Z After Years of Legal Battles

July 24, 2025

After more than a decade of legal fights, Rymir Satterthwaite has officially dropped his lawsuit accusing Jay-Z of being his...

#image_title
News

UnitedHealthcare Under Federal Investigation Over Medicare Advantage Practices

July 24, 2025

UnitedHealth Group has disclosed that it is under both criminal and civil investigation by the Department of Justice regarding its...

Next Post

Showtime Cancels Jamie Foxx’s “White Famous”

Leave a ReplyCancel reply

Baller News

Subscribe To Our Newsletter

* indicates required

Follow Us

Subscribe to Blog

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

© Copyright 2024, Baller Alert Inc. All Rights Reserved

No Result
View All Result
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
%d