Gerren Keith Gaynor March 13, 2013 918. The ESSENCE team has extended the brands reach and influence across multiple platforms, solidifying its position as the premier destination for African-American women serving an audience of 16.3 million, said Time Inc. President Rich Battista in a memo to staff obtained by NBC News. The company also runs the annual Essence Festival in New Orleans, a celebration of Black culture that has drawn headliners like Aretha Franklin, Mary J. Blige and John Legend. Know Thyself sweathshirt available @Alkebulan Ujaama Book Store. READ: Chance The Rapper Joins Essence Fest As Headlining Act. Under the pseudonym Black Female Anonymous, Essence magazine staffers demanded Dennis resignationalong with other leadership changesafter they said women were systematically suppressed by pay inequity, sexual harassment, corporate bullying, intimidation, colorism and classism and the company had been hijacked by cultural and corporate greed and an unhinged abuse of power. The staffers blasted execs for an ironic turn of events: A publication that was meant to empower Black women instead mistreated and abused the women who worked for it. Even with your apology, [victims] still have their trauma and the after-effects. He vowed that Essence Ventures would bring heightened inclusivity to BeautyCon. Black Women In Hollywood To Know: Creatives | Essence Meet the writers, hair stylists, costume designers, and all around creatives who are setting the standard today. Its branding was so popular that Time Inc., purchased the magazine and for the past 12 years, a publication dedicated to Black women was in White hands. Essence Ventures started in 2017 and is chaired by founder, entrepreneur, investor and philanthropist Richelieu Dennis. Richelieu Dennis, the founder of Sundial Brands, said he bought the company to serve and empower women of color.. It took me 16 years before I agreed to go into mass retail. Essence CEO Richelieu Dennis Resigns Following Scathing Op-Ed (Page Six), These Mother-And-Son Entrepreneurs Went From Selling Soap On Harlem Streets To An $850 Million Fortune (Forbes). Subscribe to American Essence I dont believe in losses, she wrote. Ivie is a Nigerian-American, native New Yorker, and journalist covering, Essence Ventures LLC, an independent black-owned company today announced its acquisition of Essence Communications Inc., home of, magazine, from Time Inc. on Wednesday. At the time of the purchase, Mr. Dennis, who was born and raised in Liberia, said Essence would serve and empower women of color under his stewardship. Today, however, Time Inc. is set to be owned by Midwest magazine publisher Meredith Corporation, which bought the conglomerate late last year in a $2.8 billion take-over, partially funded by the conservative-focused Koch brothers. Essence Names Interim Chief After Claim of 'Abusive Work Culture' The first time I picked up an issue of Essence magazine, I noticed Susan Taylors picture. Continuing in our tradition, we're introducing you to the masterminds behind some of the most popular. All rights Reserved. We also use third-party cookies that help us analyze and understand how you use this website. An anonymous essay published on Sunday criticized Essence, the groundbreaking Black media brand, citing an abusive work culture in which bullying and sexual harassment were common. , who will keep her place at the helm of the company will also joining its board of directors. ABOUT US - American Essence The cookies is used to store the user consent for the cookies in the category "Necessary". But we must fix the systemic brokenness of any Black cultural institution that devalues Black women. Mr. Dennis would not discuss the details of the sale. The company hired two law firms to conduct an investigation, which found that staff felt overworked and underappreciated but concluded that Dennis didnt engage in behavior that would have amounted to unlawful discrimination, harassment or retaliation. (The anonymous writers of the Medium article did not speak to investigators.). Black News and Black Views with a Whole Lotta Attitude. The sale of Essence to Mr. Dennis comes at time when traditional media companies continue to struggle to adapt to an increasingly digital landscape, challenges also faced by black-owned media. Time Inc. announced Wednesday that Essence Ventures, LLC, an independent African-American owned company, acquired Essence Communications. The executive team will also have an ownership interest in the business. They faulted a previous Essence leader, Michelle Ebanks, blaming her for a toxic culture. Ms. Ebanks stepped down as the chief executive of Essence Communications in March, after nearly 20 years at the company, and is a member of the Essence board. Analytical cookies are used to understand how visitors interact with the website. HOME - American Essence U.S. Magazine Industry - Statistics & Facts | Statista With a circulation of over 1 million and some 8.5 million monthly readers, Essence is hardly nicheand it should have been appealing to major publishing corporations. Richelieu Dennis, the owner of Essence Ventures, at the 2018 Essence Festival in New Orleans. American Essence magazine is a breath of fresh air in troubled times! You win and you learn. In the essay, Black Female Anonymous tied their efforts to the larger social protest movement that has swept the country. Clearly Dennis has committed his life (and substantial economic resources) to supporting minority women. As a woman who writes, and aspires to publish a book, I really admire Susan, and I think that she is one of the most influential women in journalism. Essence has always had a close connection to its readers. A person who identified herself as a representative of the essays writers, contacted through the Black Female Anonymous Instagram account, declined to be interviewed for this article. Similar uprisings have taken place at The New York Times, The Philadelphia Inquirer, The Wall Street Journal, The Washington Post, The Pittsburgh Post-Gazette and the womens lifestyle website Refinery29. Because I hope they dont stray from the culture of Essence. 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