Chicago Tribune
The family-owned Chicago-based publisher of Ebony and Jet magazines is taking on a partner. JPMorgan Chase & Co.’s special investments group has acquired a minority stake in Johnson Publishing Co., which will accelerate a strategic initiative under new CEO Desiree Rogers aimed at boosting revenues, stabilizing circulation and expanding the company’s digital footprint. “We’ve never had a partner in the business before,” says Rogers. “It’s always been 100 percent family owned.” Last November, Johnson Publishing sold its headquarters to Columbia College for $8 million.
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JPMorgan Chase unit buys ‘substantial’ minority stake in Ebony parent
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