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Linda Johnson Rice Says Ebony Sell Is Smart Business Move

Last week marked the end of an era for the historic Chicago-based Johnson Publishing Co. After a 71-year run, the family-owned business has sold its iconic lifestyle magazine — Ebony — and the now digital-only Jet magazine to Clear View Group, a private equity firm in Denton, Texas. Johnson Publishing retained ownership of Fashion Fair cosmetics and its photo archives valued at $40 million.

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