Essence Festival

Source: Paras Griffin / Getty

Right on the heels of the movie “Girls Trip” which highlighted Essence Fest …Time  Inc. is looking to sell its majority stake in Essence Magazine. Time assumed Essence 12 years ago which made it no longer a black owned publication.

Time CEO said there’s still “real upside” for Essence, so the publisher will keep a stake. But it’s looking for a “strategic partner with investment capital” to “unlock value” for the magazine. A lot of corporate talk.

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