In the News: MLK Statue Sparks Controversy; JPMorgan Chase Invests in Johnson Publishing

In the News: MLK Statue Sparks Controversy; JPMorgan Chase Invests in Johnson Publishing

Martin Luther King Jr. statue sparks controversy (Image: File)

  • MLK Memorial Statue’s Appearance Draws Criticism

More than half a million people are expected in the nation’s capital for the first viewing of the Martin Luther King Jr. memorial statue in August. But the statue’s depiction of King has sparked controversy.

According to critics, sculptor Lei Yixin made the the Civil Rights leader’s statue look Asian and having MLK’s arms crossed makes him look “confrontational.” There’s also criticism that the statue should have been done by an American.

For video, continue on to The Grio…

  • Spike Lee Nets Almost $1.5 Million in Film Fracas

A Paris court has ordered a French TV station to pay Spike Lee $1 million euros (about $1.4 million) for failing to distribute his World War II-era film, Miracle at St. Anna.

Read more at The Root…

  • Toyota Turns to a Bulldog to Talk Up the RAV4

Toyota will introduce a new ad campaign next week, promoting its RAV4 compact sport utility vehicle to the African American market.

Created by Burrell Communications, the campaign will be the first time Toyota has marketed this vehicle to African Americans, though it has previously advertised many of its cars, including the Camry, Corolla, Avalon, Prius, Yaris, Matrix and Venza, to that consumer demographic.

Read more at the New York Times

  • Johnson Publishing Receives Investment Through Stake Sale to J.P. Morgan

Johnson Publishing Co., the Chicago publisher of Ebony and Jet magazines, has sold a minority stake to J. P. Morgan Chase & Co. and will use funds raised through the investment to accelerate its growth plan.

CEO Desiree Rogers declined to say how much the private-equity arm of New York-based J.P. Morgan invested, but she noted that the stake is “substantial.”

Read more at Crain’s Chicago Business…

  • Facebook Reaches 750 Million User Mark

The numbers are in. A year after the social media site hit 500 million users; Facebook CEO Mark Zuckerberg announced Wednesday it now has 750 million users.

“The reason why we didn’t report it is we don’t think it’s the metric to watch right now,” Zuckerberg said during an event that unveiled the Skype video calls function on Facebook.