The Black iconic magazine is being forced into bankruptcy from it’s creditors. The magazine has been a mainstay in the black community for 75 years and at one point reached a circulation of more than 1.3 million. So what does all this mean?
Source: Ebony Magazine / Courtesy of Ebony Magazine
“The goal is to get control of the company, not to break it up and sell it off in pieces,” Walthour Ebony Media’s recently appointed chairman told The Wall Street Journal. “We are petitioning to have the digital operation continue while we clean up the balance sheet.”