🔥14458

On Wednesday, Black-owned company, Essence Ventures LLC, announced that they acquired Essence Communications Inc. — the media company behind Essence magazine.

Essence Ventures LLC is led by Richelieu Dennis, the same founder Shea Moisture hair and skin products.

His company acquired Essence Communications Inc. from Time Inc., which makes Essence magazine a 100% Black owned business again. President Michelle Ebanks will continue to lead the magazine and its multiple platforms. The all Black women executive team, including Ebanks, will also have an equity stake in the business.

Folks across Black Twitter are celebrating this big move. Swipe through to check out people’s reactions.

Related Posts

Chadwick Boseman Teams With Barry Jenkins For 70s Hijacking Thriller

Young Chop Claims He Was Shot At While Looking For 21 Savage In Allen Temple Hood

Lil B Permanently Calls Off Curse On Houston Rocket James Harden

G Herbo Shares Deluxe Edition Of ‘PTSD’ Album Stream

Meek Mill & Future Announce Legendary Nights Tour With Megan Thee Stallion, YG & Mustard

G Herbo Releases ‘PTSD’ LP