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Essence Ventures LLC, headed by Richelieu Dennis, buys iconic magazine from Time Inc.
January 4, 2018
By: Christine Esposito
Editor-in-Chief
Essence Ventures LLC—an independent African-American owned company that has Sundial Brands’ Richelieu Dennis as its chairperson—has acquired media company Essence Communications Inc., including Essence magazine, from Time Inc. Essence president Michelle Ebanks will continue at the helm of the company and will also join the Essence Ventures' board of directors. In addition, the all Black female executive team of Essence, including Ebanks, will have an equity stake in the business. “The...
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