Time Inc to Sell Majority Stake in Essence Magazine.

Image result

Essence magazine was the ish back in the days…

According to reports, Time Inc (TIME) will sell a majority stake in the monthly African-American women’s lifestyle magazine Essence in the company’s first major move since it decided not to sell itself in April, the Wall Street Journal reported.

Time CEO Rich Battista 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.

Essence’s events business, growing digital presence and strong relationships with marketers are reasons for optimism, Battista noted. Essence is the only African-American brand with a dedicated Snap Inc (SNAP) Snapchat Discover channel.

The sale comes three months after Time ended conversations with potential buyers and said it would refocus on its core brands



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s