Essence Magazine Returns to Black Ownership

03 Jan, 2018

Essence Communications Inc., the 47-year-old mutli-platform brand that owns Essence magazine and the annual Essence Festival, is once again owned by African Americans after being acquired by Essence Ventures LLC, an independent African-American-owned company founded and chaired by Richelieu Dennis, who also is founder of Shea Moisture.

The official press release, below, details the historic move.

It is with great joy that we announced today, Jan. 3, 2018, that Essence Communications is under new ownership: Essence Ventures LLC, an independent African-American-owned company focused on merging content, community and commerce.

We wish you could have been in the room to see the excitement and pride on the Essence Teams’ faces as we gave them the good news. The new journey on which we are embarking will be fueled not only by the passion we have (and have always had) for Black women, but also that Black women will be at the helm as we move forward. Michelle Ebanks will serve as the president of ESSENCE Communications.

Thank you, dear Essence audience, for being in our corner and supporting us over these last 47 years, and we hope you’ll continue to support our work, because we know that we work for you. And nothing makes us happier.

We’d love to hear your thoughts about the news, and how we can best serve you in the year ahead. Feel free to reach out to us on social media.

Thank You,

Team ESSENCE

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