ESSENCE VENTURES ANNOUNCES ACQUISITION OF
ESSENCE COMMUNICATIONS FROM TIME INC.
Essence Ventures LLC, an independent African-American owned company focused on merging content, community, and commerce, recently announced that it acquired Essence Communications Inc. from Time Inc. ESSENCE President Michelle Ebanks will continue at the helm of the company and join its board of directors. In addition, ESSENCE’s executive team, comprised of Black women, will also have an equity stake in the business.
Since its founding in 1970, ESSENCE has been a hallmark of women’s empowerment and a beacon of pride and celebration of the diverse images and lifestyles of Black women. Currently, the company reaches a global audience of more than 16 million across various platforms, including its print magazine; digital, video and social platforms; television specials, books; and live events, including the Street Style Block Party during New York Fashion Week and the annual ESSENCE Festival, a cultural celebration attracting more than 450,000 attendees.
“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,” said Ebanks. “In addition, it represents a critical recognition and elevation of the Black women running the business from solely a leadership position to a co-ownership position.”
With Essence Ventures’ investment in the company, ESSENCE will focus on growing its digital businesses via distribution partnerships, compelling original content, and targeted client-first strategies. The brand will also expand its growth into global markets with women who have shared interests and aspirations. “The strategic vision and leadership that Michelle has provided to ESSENCE over the years have been exemplary, and we are thrilled to work with her and her talented team to provide the necessary resources and support to grow the engagement and influence of the ESSENCE brand and transform this business,” said Richelieu Dennis, founder and chairperson of Essence Ventures. “As importantly, we 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 offers new opportunities for the women leading the business to also be partners in the business.”
OTHER NEWS
April Is National Minority Health Month
This April, join The Black Women’s Agenda, Inc. in celebrating National Minority Health Month. This year, the U.S. Department of Health and Human Services Office of Minority Health (OMH) will join partners in raising awareness about the important role an active lifestyle plays in keeping us healthy. Their theme for the 2019 observance is Active & Healthy, which will “allow OMH and minority health advocates throughout the nation to emphasize the health benefits of incorporating even small amounts of moderate-to-vigorous physical activity into our schedules.
Black Women Focus on Aging Mastery
The Black Women’s Agenda recently hosted a summit themed, “I Am the Change: Living Your Best Life at Every Age,” at Morgan State University in Baltimore, MD. Sponsored by AARP and featuring leading experts in the fields of health, education, and economic security, the event focused on the importance of health and wellness in the aging process.
“Too often black women are focused on everyone and everything except themselves,” said panel moderator Dr. Rockeymoore Cummings. “Our concern for and work on behalf of our families and communities competes with our ability to implement self-care strategies that support our physical, emotional, spiritual, and socioeconomic wellbeing.”
March is Women’s History Month
This March, join The Black Women’s Agenda, Inc. as we celebrate Women’s History Month. Congress first declared March as Women’s History month in 1987. Since then, every year there’s a Presidential Proclamation to announce the month and to honor women who have made a notable impact in history.
According to the National Women’s History Alliance, “In February 1980, President Carter issued the first Presidential Proclamation declaring the Week of March 8th 1980 as National Women’s History Week. In the same year, Representative Barbara Mikulski, who at the time was in the House of Representatives, and Senator Orrin Hatch co-sponsored a Congressional Resolution for National Women’s History Week 1981. This co-sponsorship demonstrated the wide-ranging political support for recognizing, honoring, and celebrating the achievements of American women.
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Today in #BlackHistory — Unbought and Unbossed, Shirley Chisholm became the first Black Presidential nominee.
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